Essex Investment Management Co. LLC Sells 3,761 Shares of Trimble Inc. (NASDAQ:TRMB)

Essex Investment Management Co. LLC decreased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 13.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,785 shares of the scientific and technical instruments company’s stock after selling 3,761 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Trimble were worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Huntington National Bank grew its position in shares of Trimble by 10.4% during the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock worth $125,000 after buying an additional 167 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Trimble by 0.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 37,876 shares of the scientific and technical instruments company’s stock worth $2,676,000 after buying an additional 193 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Trimble by 1.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company’s stock worth $1,386,000 after buying an additional 210 shares during the period. Simmons Bank grew its position in shares of Trimble by 1.4% during the 1st quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company’s stock worth $1,050,000 after buying an additional 214 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Trimble by 0.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 61,673 shares of the scientific and technical instruments company’s stock worth $4,049,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of the business’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president directly owned 2,882 shares of the company’s stock, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark David Schwartz sold 1,476 shares of the business’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the transaction, the vice president directly owned 22,405 shares in the company, valued at $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,047 shares of company stock valued at $1,538,152 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TRMB. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Oppenheimer boosted their price target on shares of Trimble from $81.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $89.14.

Trimble Price Performance

TRMB opened at $84.69 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The company has a market capitalization of $20.21 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 3.62 and a beta of 1.67. The firm’s fifty day moving average price is $75.92 and its two-hundred day moving average price is $70.97. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $86.42.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data 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. The firm had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. As a group, analysts anticipate that Trimble Inc. will post 2.37 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.