Nikko Asset Management Americas Inc. Purchases 44,896 Shares of Trimble Inc. (NASDAQ:TRMB)

Nikko Asset Management Americas Inc. increased its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,708,644 shares of the scientific and technical instruments company's stock after acquiring an additional 44,896 shares during the period. Trimble comprises about 1.4% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 17th biggest holding. Nikko Asset Management Americas Inc. owned 1.09% of Trimble worth $144,100,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Morgan Stanley grew its holdings in Trimble by 10.0% during the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company's stock valued at $412,285,000 after purchasing an additional 694,842 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Trimble by 13.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company's stock valued at $276,080,000 after purchasing an additional 603,020 shares during the period. Wellington Management Group LLP grew its holdings in Trimble by 2,399.7% during the third quarter. Wellington Management Group LLP now owns 425,330 shares of the scientific and technical instruments company's stock valued at $22,908,000 after purchasing an additional 408,315 shares during the period. Dimensional Fund Advisors LP grew its holdings in Trimble by 21.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,466,786 shares of the scientific and technical instruments company's stock valued at $78,041,000 after purchasing an additional 263,982 shares during the period. Finally, Invesco Ltd. grew its holdings in Trimble by 5.7% during the third quarter. Invesco Ltd. now owns 3,515,579 shares of the scientific and technical instruments company's stock valued at $189,349,000 after purchasing an additional 189,902 shares during the period. Institutional investors own 93.21% of the company's stock.

Insider Activity

In other news, CEO Robert G. Painter sold 3,500 shares of the company'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 $11,771,371.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Robert G. Painter sold 3,500 shares of the company'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 $11,771,371.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Peter Large sold 1,447 shares of the company's stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the transaction, the senior vice president now directly owns 8,220 shares in the company, valued at approximately $485,802. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,093 shares of company stock valued at $862,772. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TRMB shares. StockNews.com downgraded Trimble from a "buy" rating to a "hold" rating in a research report on Saturday, February 10th. Raymond James restated an "outperform" rating and issued a $65.00 price objective on shares of Trimble in a research report on Wednesday. Piper Sandler restated an "overweight" rating and issued a $73.00 price objective on shares of Trimble in a research report on Monday, May 6th. Robert W. Baird boosted their price objective on Trimble from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, February 13th. Finally, Oppenheimer restated an "outperform" rating and issued a $72.00 price objective on shares of Trimble in a research report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $66.67.

Trimble Trading Down 0.3 %

TRMB stock traded down $0.16 during midday trading on Friday, reaching $57.09. 1,180,673 shares of the company traded hands, compared to its average volume of 1,412,709. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00. The business has a 50 day moving average of $60.65 and a 200-day moving average of $54.30. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 59.34, a P/E/G ratio of 2.62 and a beta of 1.51.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The business had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. During the same period in the prior year, the business posted $0.52 earnings per share. The company's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts expect that Trimble Inc. will post 2.2 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.