Nordea Investment Management AB Sells 172,579 Shares of Trimble Inc. (NASDAQ:TRMB)

Nordea Investment Management AB lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,612,897 shares of the scientific and technical instruments company's stock after selling 172,579 shares during the period. Nordea Investment Management AB owned about 1.05% of Trimble worth $139,372,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC raised its holdings in Trimble by 383.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company's stock worth $11,881,000 after purchasing an additional 174,917 shares in the last quarter. Barclays PLC increased its stake in shares of Trimble by 43.6% in the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company's stock worth $31,254,000 after acquiring an additional 176,139 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Trimble by 10.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company's stock valued at $84,067,000 after acquiring an additional 150,125 shares during the period. Comerica Bank purchased a new position in Trimble during the 2nd quarter valued at about $4,647,000. Finally, Ameriprise Financial Inc. grew its holdings in Trimble by 3.0% in the third quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company's stock worth $178,887,000 after purchasing an additional 95,588 shares during the period. Hedge funds and other institutional investors own 90.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird boosted their price target on Trimble from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 13th. Piper Sandler raised Trimble from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $51.00 to $68.00 in a research note on Tuesday, February 13th. Oppenheimer lifted their price target on Trimble from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Trimble from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Finally, StockNews.com lowered Trimble from a "buy" rating to a "hold" rating in a research report on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

Trimble Stock Performance

NASDAQ:TRMB traded up $0.38 during mid-day trading on Monday, reaching $62.45. The company's stock had a trading volume of 983,261 shares, compared to its average volume of 1,425,560. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $63.93. The firm's fifty day moving average price is $56.19 and its two-hundred day moving average price is $51.47. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. The stock has a market cap of $15.34 billion, a P/E ratio of 50.06, a PEG ratio of 2.79 and a beta of 1.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The business had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. During the same quarter in the previous year, the firm earned $0.52 EPS. Trimble's revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert G. Painter sold 2,500 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the sale, the chief executive officer now owns 239,901 shares of the company's stock, valued at approximately $13,134,579.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares of the company's stock, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold 13,735 shares of company stock valued at $796,527 in the last quarter. 0.61% of the stock is currently owned by insiders.

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.