DekaBank Deutsche Girozentrale Trims Stake in Trimble Inc. (NASDAQ:TRMB)

DekaBank Deutsche Girozentrale cut its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,437 shares of the scientific and technical instruments company's stock after selling 160,284 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.06% of Trimble worth $7,634,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC grew its stake in shares of Trimble by 383.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company's stock valued at $11,881,000 after acquiring an additional 174,917 shares during the period. Barclays PLC lifted its holdings in 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 purchasing an additional 176,139 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Trimble by 10.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company's stock worth $84,067,000 after purchasing an additional 150,125 shares in the last quarter. Raymond James & Associates lifted its holdings in Trimble by 126.1% in the 4th quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company's stock worth $7,121,000 after purchasing an additional 74,667 shares in the last quarter. Finally, Comerica Bank purchased a new position in Trimble in the 2nd quarter worth approximately $4,647,000. 93.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRMB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Trimble from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Piper Sandler reissued an "overweight" rating and issued a $73.00 price target on shares of Trimble in a report on Tuesday, April 2nd. Robert W. Baird upped their price objective on Trimble from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, February 13th. StockNews.com cut Trimble from a "buy" rating to a "hold" rating in a report on Saturday, February 10th. Finally, Oppenheimer upped their price objective on Trimble from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $64.83.

Trimble Price Performance

Shares of TRMB traded up $0.51 during mid-day trading on Thursday, hitting $62.03. 1,333,746 shares of the stock were exchanged, compared to its average volume of 1,445,611. The company has a market cap of $15.24 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 2.79 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. The firm has a 50-day moving average of $60.74 and a two-hundred day moving average of $52.91. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55.

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

Insider Activity

In other news, CEO Robert G. Painter sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares of the company's stock, valued at approximately $11,771,371.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares of the company's stock, valued at approximately $11,771,371.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,146 shares of company stock valued at $913,634. 0.61% 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.