Bank Julius Baer & Co. Ltd Zurich Cuts Stock Position in Trimble Inc. (NASDAQ:TRMB)

Bank Julius Baer & Co. Ltd Zurich decreased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,610 shares of the scientific and technical instruments company’s stock after selling 20,766 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Trimble were worth $3,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Trimble by 0.3% during the third quarter. Vanguard Group Inc. now owns 28,939,750 shares of the scientific and technical instruments company’s stock valued at $1,558,695,000 after purchasing an additional 86,414 shares in the last quarter. Morgan Stanley grew its position in shares of 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of 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 in the last quarter. Invesco Ltd. lifted its holdings in shares of Trimble by 5.7% in the 3rd quarter. Invesco Ltd. now owns 3,515,579 shares of the scientific and technical instruments company’s stock valued at $189,349,000 after acquiring an additional 189,902 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Trimble by 3.0% in the 3rd 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 acquiring an additional 95,588 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

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

Trimble Stock Up 1.6 %

Shares of NASDAQ TRMB opened at $60.15 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. The company has a market cap of $14.69 billion, a P/E ratio of 48.12, a PEG ratio of 2.65 and a beta of 1.50. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The firm has a 50-day simple moving average of $61.72 and a two-hundred day simple moving average of $53.44.

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

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 5,000 shares of the business’s 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 sale, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, 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 SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now directly owns 187,055 shares in the company, valued at $11,771,371.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,828 shares of company stock worth $1,013,519. Company insiders own 0.47% 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.