Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Holdings in Trimble Inc. $TRMB

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 31.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 146,283 shares of the scientific and technical instruments company’s stock after acquiring an additional 35,015 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Trimble were worth $11,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TRMB. State Street Corp lifted its position in shares of Trimble by 2.6% during the 2nd quarter. State Street Corp now owns 10,908,124 shares of the scientific and technical instruments company’s stock valued at $828,799,000 after buying an additional 273,320 shares during the last quarter. Generation Investment Management LLP raised its stake in Trimble by 19.1% in the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock valued at $685,314,000 after acquiring an additional 1,449,315 shares during the period. Boston Partners lifted its holdings in Trimble by 14.4% during the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock valued at $318,285,000 after purchasing an additional 525,214 shares during the last quarter. Invesco Ltd. boosted its position in Trimble by 6.5% during the second quarter. Invesco Ltd. now owns 4,089,301 shares of the scientific and technical instruments company’s stock worth $310,705,000 after purchasing an additional 248,751 shares during the period. Finally, Norges Bank purchased a new position in shares of Trimble in the second quarter worth about $198,583,000. 93.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Trimble news, CEO Robert G. Painter sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $81.39, for a total value of $610,425.00. Following the completion of the sale, the chief executive officer owned 41,897 shares in the company, valued at approximately $3,409,996.83. The trade was a 15.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Phillip Sawarynski sold 2,250 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total value of $181,012.50. Following the sale, the chief financial officer directly owned 25,684 shares of the company’s stock, valued at approximately $2,066,277.80. This trade represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 27,084 shares of company stock worth $2,144,726. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $102.00 price objective on shares of Trimble in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on Trimble in a research note on Thursday, November 13th. They issued an “overweight” rating and a $94.00 target price for the company. Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, KeyCorp raised shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target on the stock in a report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $96.67.

Trimble Stock Up 1.4%

TRMB opened at $80.61 on Friday. The business’s fifty day simple moving average is $79.89 and its 200 day simple moving average is $80.42. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. The stock has a market cap of $19.18 billion, a PE ratio of 55.21, a P/E/G ratio of 2.81 and a beta of 1.59.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. The business had revenue of $856.50 million for the quarter. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. As a group, research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble announced that its Board of Directors has initiated a share repurchase program on Friday, December 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Trimble Company Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.