Illinois Municipal Retirement Fund Trims Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Illinois Municipal Retirement Fund decreased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 77.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,523 shares of the scientific and technical instruments company's stock after selling 53,624 shares during the period. Illinois Municipal Retirement Fund's holdings in Trimble were worth $826,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. D.B. Root & Company LLC raised its stake in Trimble by 1.6% in the 4th quarter. D.B. Root & Company LLC now owns 15,500 shares of the scientific and technical instruments company's stock valued at $825,000 after acquiring an additional 244 shares during the period. M&T Bank Corp raised its position in shares of Trimble by 2.1% in the third quarter. M&T Bank Corp now owns 12,220 shares of the scientific and technical instruments company's stock valued at $659,000 after purchasing an additional 249 shares during the period. J.P. Morgan Private Wealth Advisors LLC lifted its stake in shares of Trimble by 7.0% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 4,092 shares of the scientific and technical instruments company's stock valued at $220,000 after buying an additional 268 shares in the last quarter. Wahed Invest LLC boosted its holdings in Trimble by 9.5% in the 3rd quarter. Wahed Invest LLC now owns 3,884 shares of the scientific and technical instruments company's stock worth $209,000 after buying an additional 337 shares during the period. Finally, Inspire Advisors LLC grew its stake in Trimble by 6.4% in the 3rd quarter. Inspire Advisors LLC now owns 6,023 shares of the scientific and technical instruments company's stock valued at $324,000 after buying an additional 360 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Peter Large sold 1,447 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the transaction, the senior vice president now owns 8,220 shares of the company's stock, valued at approximately $485,802. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Peter Large sold 1,447 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the sale, the senior vice president now directly owns 8,220 shares in the company, valued at approximately $485,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock worth $1,013,519 in the last quarter. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRMB. Robert W. Baird raised their price target on Trimble from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, February 13th. StockNews.com lowered Trimble from a "buy" rating to a "hold" rating in a report on Saturday, February 10th. Piper Sandler reissued an "overweight" rating and issued a $73.00 price target on shares of Trimble in a report on Monday, April 15th. Oppenheimer boosted their price objective on shares of Trimble from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Trimble from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.83.

Trimble Price Performance

Shares of NASDAQ:TRMB traded down $0.60 during trading on Tuesday, reaching $60.07. The company had a trading volume of 1,289,993 shares, compared to its average volume of 1,373,579. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. 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 capitalization of $14.67 billion, a P/E ratio of 48.06, a price-to-earnings-growth ratio of 2.70 and a beta of 1.50. The company has a fifty day moving average of $61.72 and a two-hundred day moving average of $53.59.

Trimble (NASDAQ:TRMB - Get Free Report) last released 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 return on equity of 12.59% and a net margin of 8.19%. The business had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. During the same quarter last year, the business posted $0.52 earnings per share. The company's revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Trimble Inc. will post 2.23 earnings per share for the current year.

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.