Logan Capital Management Inc. Decreases Stock Position in Trimble Inc. (NASDAQ:TRMB)

Logan Capital Management Inc. lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,595 shares of the scientific and technical instruments company's stock after selling 6,982 shares during the quarter. Logan Capital Management Inc.'s holdings in Trimble were worth $8,380,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TRMB. KBC Group NV increased its holdings in shares of Trimble by 81.9% in the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company's stock worth $11,279,000 after purchasing an additional 71,891 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Trimble by 5.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock worth $26,560,000 after purchasing an additional 17,785 shares during the last quarter. Wellington Management Group LLP lifted its position in Trimble by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after purchasing an additional 5,472 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Trimble in the 4th quarter valued at about $406,000. Finally, Simon Quick Advisors LLC grew its position in Trimble by 34.1% in the fourth 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 in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a research report on Thursday, February 20th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, StockNews.com lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trimble has a consensus rating of "Buy" and a consensus target price of $85.50.

Trimble Stock Performance

NASDAQ TRMB traded down $0.03 on Thursday, reaching $71.24. 791,707 shares of the company's stock traded hands, compared to its average volume of 1,399,291. The stock has a 50 day moving average price of $64.00 and a 200-day moving average price of $69.19. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The company had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same period in the previous year, the company posted $0.64 earnings per share. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This trade represents a 17.40% decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently 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.