California Public Employees Retirement System Reduces Holdings in Trimble Inc. (NASDAQ:TRMB)

California Public Employees Retirement System lowered its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 458,090 shares of the scientific and technical instruments company's stock after selling 17,622 shares during the period. California Public Employees Retirement System owned 0.18% of Trimble worth $24,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its position in Trimble by 383.0% in the third 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 buying an additional 174,917 shares during the last quarter. Barclays PLC boosted its holdings 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 valued at $31,254,000 after acquiring an additional 176,139 shares during the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Trimble by 51.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company's stock worth $2,185,000 after acquiring an additional 13,899 shares during the period. Raymond James & Associates raised its holdings in shares of Trimble by 126.1% during the fourth 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 during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Trimble by 3.0% during the third quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company's stock valued at $178,887,000 after purchasing an additional 95,588 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares of the company's stock, valued at $137,927.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 187,055 shares of the company's stock, valued at $11,771,371.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The disclosure for this sale can be found here. Insiders have sold 16,828 shares of company stock valued at $1,013,519 over the last ninety days. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRMB. Oppenheimer boosted their price objective on Trimble from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, March 14th. StockNews.com downgraded shares of Trimble from a "buy" rating to a "hold" rating in a report on Saturday, February 10th. Robert W. Baird lifted their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Finally, Piper Sandler restated an "overweight" rating and set a $73.00 target price on shares of Trimble in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.83.

Trimble Price Performance

TRMB traded up $0.52 during midday trading on Monday, hitting $60.67. 772,740 shares of the company traded hands, compared to its average volume of 1,374,052. The business has a 50 day simple moving average of $61.72 and a two-hundred day simple moving average of $53.59. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.70 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56.

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

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.