Trimble Inc. (NASDAQ:TRMB) Position Cut by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC cut its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 50.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,593 shares of the scientific and technical instruments company's stock after selling 75,112 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Trimble were worth $5,271,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in Trimble by 4.3% during the 3rd quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company's stock worth $46,151,000 after acquiring an additional 30,457 shares during the period. Merit Financial Group LLC acquired a new stake in Trimble during the 4th quarter worth approximately $602,000. MassMutual Private Wealth & Trust FSB lifted its position in Trimble by 3,560.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 16,765 shares of the scientific and technical instruments company's stock worth $1,185,000 after acquiring an additional 16,307 shares during the period. Simon Quick Advisors LLC lifted its position in Trimble by 34.1% during the 4th quarter. Simon Quick Advisors LLC now owns 13,634 shares of the scientific and technical instruments company's stock worth $963,000 after acquiring an additional 3,465 shares during the period. Finally, Genesis Private Wealth LLC acquired a new stake in Trimble during the 4th quarter worth approximately $203,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

NASDAQ TRMB traded up $1.37 during mid-day trading on Tuesday, hitting $71.92. The stock had a trading volume of 297,181 shares, compared to its average volume of 1,390,142. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 3.09 and a beta of 1.67. The company has a 50 day simple moving average of $64.43 and a 200 day simple moving average of $69.62. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share 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 the consensus estimate of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble's revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Equities analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TRMB. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Finally, Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $88.43.

Insider Activity at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director now owns 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

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.