Schonfeld Strategic Advisors LLC Reduces Stock Position in Trimble Inc. (NASDAQ:TRMB)

Schonfeld Strategic Advisors LLC reduced its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 81.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,427 shares of the scientific and technical instruments company's stock after selling 252,402 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Trimble were worth $3,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its position in shares of Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock worth $1,623,000 after purchasing an additional 141 shares in the last quarter. Essex Investment Management Co. LLC increased its position in Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock worth $2,017,000 after buying an additional 141 shares during the period. SRS Capital Advisors Inc. lifted its stake in Trimble by 12.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock valued at $93,000 after buying an additional 149 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Trimble by 1.6% in the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock valued at $717,000 after acquiring an additional 156 shares during the period. Finally, Huntington National Bank grew its position in shares of Trimble by 10.4% during the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock worth $125,000 after acquiring an additional 167 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Trimble Stock Performance

NASDAQ TRMB traded up $3.00 during trading hours on Wednesday, hitting $66.32. 3,181,341 shares of the stock were exchanged, compared to its average volume of 1,393,702. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The stock has a 50-day moving average of $64.03 and a 200 day moving average of $68.89.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same period in the prior year, the business posted $0.64 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of recent research reports. Oppenheimer increased their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. StockNews.com downgraded shares of Trimble from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a report on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $86.00.

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.