Voya Investment Management LLC Decreases Stock Holdings in Trimble Inc. $TRMB

Key Points

• Voya Investment Management LLC reduced its position in Trimble Inc. by 14.9%, resulting in 80,475 shares valued at approximately $5.28 million.
• Analyst ratings for Trimble have been optimistic, with Raymond James increasing its target price to $93.00 and JPMorgan Chase raising theirs to $96.00.
• Trimble reported quarterly earnings of $0.71 EPS, exceeding expectations, with revenues of $875.70 million, signaling a year-over-year growth.

Voya Investment Management LLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,475 shares of the scientific and technical instruments company's stock after selling 14,081 shares during the quarter. Voya Investment Management LLC's holdings in Trimble were worth $5,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TRMB. OneDigital Investment Advisors LLC boosted its position in Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after purchasing an additional 943 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Trimble by 6.0% in the 1st quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after purchasing an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after buying an additional 2,397 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Trimble by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after buying an additional 4,185 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock worth $346,000 after acquiring an additional 1,059 shares during the period. Institutional investors own 93.21% of the company's stock.

Trimble Price Performance

Shares of Trimble stock traded down $0.63 during trading hours on Monday, hitting $82.15. The company's stock had a trading volume of 1,167,770 shares, compared to its average volume of 1,397,378. The company has a market cap of $19.55 billion, a PE ratio of 70.82, a PEG ratio of 3.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The business has a 50 day moving average price of $82.07 and a two-hundred day moving average price of $73.26. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. During the same quarter last year, the company earned $0.62 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director directly owned 13,809 shares in the company, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Allison sold 3,156 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the transaction, the vice president directly owned 2,882 shares of the company's stock, valued at $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock valued at $19,181,521 in the last ninety days. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

TRMB has been the subject of several analyst reports. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. boosted their price target on Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Oppenheimer boosted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $90.75.

Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.