Trimble Inc. (NASDAQ:TRMB) Stock Position Reduced by Wilkins Investment Counsel Inc.

Key Points

• Wilkins Investment Counsel Inc. has reduced its holdings in Trimble Inc. by 55.5%, selling 46,350 shares and now owning 37,200 shares valued at approximately $2.44 million.
• Institutional investors collectively own 93.21% of Trimble's stock, with several firms such as Envestnet Portfolio Solutions Inc. and American Century Companies Inc. increasing their stakes during the fourth quarter.
• Trimble's latest earnings report showed a slight year-over-year revenue decline of 11.8% but exceeded analysts' expectations with a reported $0.61 EPS compared to the consensus estimate of $0.60.

Wilkins Investment Counsel Inc. reduced its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 55.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,200 shares of the scientific and technical instruments company's stock after selling 46,350 shares during the quarter. Wilkins Investment Counsel Inc.'s holdings in Trimble were worth $2,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TRMB. Huntington National Bank lifted its holdings in shares of Trimble by 10.4% in the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock valued at $125,000 after buying an additional 167 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Trimble by 0.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 37,876 shares of the scientific and technical instruments company's stock worth $2,676,000 after purchasing an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Trimble by 1.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock worth $1,386,000 after purchasing an additional 210 shares during the last quarter. Simmons Bank raised its holdings in Trimble by 1.4% during the first quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock worth $1,050,000 after purchasing an additional 214 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Trimble by 0.5% during the first quarter. Nisa Investment Advisors LLC now owns 61,673 shares of the scientific and technical instruments company's stock worth $4,049,000 after purchasing an additional 290 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRMB shares. JPMorgan Chase & Co. lifted their price objective on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, Oppenheimer boosted their price target on Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trimble presently has a consensus rating of "Buy" and a consensus target price of $89.14.

Insider Buying and Selling

In other news, VP Mark David Schwartz sold 1,404 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company's stock, valued at $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director directly owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,047 shares of company stock worth $1,538,152 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Trimble Trading Up 1.2%

Trimble stock traded up $1.05 during trading on Friday, hitting $85.24. The company's stock had a trading volume of 1,873,724 shares, compared to its average volume of 1,563,915. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 3.63 and a beta of 1.67. The stock's fifty day moving average is $75.41 and its 200 day moving average is $70.78. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $85.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Trimble Company 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.