Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,189,469 shares of the scientific and technical instruments company's stock after purchasing an additional 603,020 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 2.09% of Trimble worth $276,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TRMB. Clear Street Markets LLC increased its position in shares of Trimble by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company's stock valued at $25,000 after buying an additional 234 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Trimble by 798.1% during the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company's stock worth $25,000 after buying an additional 415 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Trimble during the 2nd quarter worth about $42,000. Operose Advisors LLC acquired a new position in shares of Trimble during the 3rd quarter worth about $43,000. Finally, Belpointe Asset Management LLC boosted its stake in shares of Trimble by 42.3% during the 1st quarter. Belpointe Asset Management LLC now owns 1,026 shares of the scientific and technical instruments company's stock worth $54,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Down 1.9 %

TRMB traded down $1.13 during midday trading on Monday, hitting $59.41. The company had a trading volume of 1,018,415 shares, compared to its average volume of 1,433,910. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average price is $60.90 and its 200 day moving average price is $53.04. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 2.71 and a beta of 1.50. 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 posted its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The company had revenue of $932.40 million for the quarter, compared to analyst estimates of $908.43 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company's quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Trimble from $48.00 to $56.00 and gave the company a "neutral" rating in a research note 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 Monday. Oppenheimer raised their target price on shares of Trimble from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, March 14th. Robert W. Baird raised their target price on shares of Trimble from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, February 13th. Finally, StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a report on Saturday, February 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trimble has a consensus rating of "Moderate Buy" and a consensus target price of $64.83.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total value of $218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 183,555 shares in the company, valued at approximately $11,472,187.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the firm's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now directly owns 183,555 shares in the company, valued at approximately $11,472,187.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 $13,134,579.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,146 shares of company stock valued at $913,634. Company insiders own 0.61% of the company's stock.

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.