Trimble Inc. (NASDAQ:TRMB) Shares Sold by Man Group plc

Man Group plc cut its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 58.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515,128 shares of the scientific and technical instruments company's stock after selling 737,687 shares during the quarter. Man Group plc owned about 0.21% of Trimble worth $36,399,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Trimble during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Trimble during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. purchased a new stake in Trimble during the 4th quarter valued at about $36,000. Larson Financial Group LLC grew its stake in Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after purchasing an additional 422 shares during the last quarter. Finally, Quarry LP grew its stake in Trimble by 121.8% during the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after purchasing an additional 402 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trimble

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the firm's 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following 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. Insiders own 0.54% of the company's stock.

Trimble Price Performance

NASDAQ TRMB traded up $0.65 during trading hours on Friday, reaching $71.89. The company's stock had a trading volume of 1,024,569 shares, compared to its average volume of 1,396,734. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The company's 50-day moving average is $64.21 and its two-hundred day moving average is $69.39.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. During the same quarter last year, the business posted $0.64 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a research note on Thursday, February 20th. Oppenheimer upped their target price on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Piper Sandler restated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. One research 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. Based on data from MarketBeat, Trimble has an average rating of "Buy" and an average target price of $88.43.

About Trimble

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.