Trimble Inc. $TRMB Stock: Trillium Asset Management LLC Decreases Holdings

Trillium Asset Management LLC reduced its stake in Trimble Inc. (NASDAQ:TRMB) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,765 shares of the scientific and technical instruments company’s stock after selling 25,598 shares during the period. Trillium Asset Management LLC’s holdings in Trimble were worth $5,526,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Trimble during the 2nd quarter worth approximately $1,096,304,000. State Street Corp lifted its holdings in shares of Trimble by 7.9% in the 2nd quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company’s stock worth $595,976,000 after purchasing an additional 849,549 shares during the last quarter. Generation Investment Management LLP acquired a new position in Trimble during the 2nd quarter valued at approximately $367,994,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Trimble by 5.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,687,967 shares of the scientific and technical instruments company’s stock valued at $267,730,000 after purchasing an additional 239,499 shares during the period. Finally, Primecap Management Co. CA acquired a new position in Trimble during the 2nd quarter valued at approximately $200,405,000. 93.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRMB. Barclays lowered their price objective on Trimble from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, November 9th. Piper Sandler reissued an “overweight” rating and set a $87.00 price target on shares of Trimble in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Trimble from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Loop Capital started coverage on shares of Trimble in a report on Monday, October 26th. They issued a “buy” rating and a $76.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.22.

Insider Activity

In other news, Director Kaigham Gabriel sold 2,476 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $65.00, for a total value of $160,940.00. Following the completion of the transaction, the director owned 14,950 shares of the company’s stock, valued at approximately $971,750. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.59% of the company’s stock.

Trimble Stock Performance

TRMB stock traded down $0.19 on Friday, reaching $55.64. The company’s stock had a trading volume of 2,085,228 shares, compared to its average volume of 2,504,790. Trimble Inc. has a 52 week low of $47.92 and a 52 week high of $84.42. The company has a market capitalization of $12.75 billion, a P/E ratio of -79.48, a price-to-earnings-growth ratio of 1.79 and a beta of 1.32. The firm has a fifty day moving average of $59.24 and a two-hundred day moving average of $60.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.80.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. The firm had revenue of $966.80 million for the quarter, compared to analysts’ expectations of $966.41 million. Trimble had a positive return on equity of 12.73% and a negative net margin of 4.08%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. As a group, analysts predict that Trimble Inc. will post 3.12 EPS for the current fiscal year.

Trimble Profile

Trimble Inc. develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture. Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.