PNC Financial Services Group Inc. Sells 7,477 Shares of Trimble Inc. (NASDAQ:TRMB)

PNC Financial Services Group Inc. reduced its stake in Trimble Inc. (NASDAQ:TRMB) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,117 shares of the scientific and technical instruments company’s stock after selling 7,477 shares during the period. PNC Financial Services Group Inc.’s holdings in Trimble were worth $2,985,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after acquiring an additional 273,863 shares during the period. Wahed Invest LLC boosted its holdings in shares of Trimble by 8.2% in the fourth quarter. Wahed Invest LLC now owns 4,201 shares of the scientific and technical instruments company’s stock worth $223,000 after acquiring an additional 317 shares during the period. Royal London Asset Management Ltd. boosted its stake in Trimble by 11.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 95,158 shares of the scientific and technical instruments company’s stock valued at $5,062,000 after buying an additional 9,628 shares during the period. V Square Quantitative Management LLC boosted its stake in Trimble by 21.2% during the fourth quarter. V Square Quantitative Management LLC now owns 6,516 shares of the scientific and technical instruments company’s stock valued at $347,000 after buying an additional 1,140 shares during the period. Finally, FIL Ltd boosted its stake in Trimble by 5.2% during the fourth quarter. FIL Ltd now owns 3,588,699 shares of the scientific and technical instruments company’s stock valued at $190,919,000 after buying an additional 178,375 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Trading Down 0.4 %

NASDAQ TRMB opened at $55.51 on Thursday. The stock’s 50-day simple moving average is $57.21 and its two-hundred day simple moving average is $56.44. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 57.82, a PEG ratio of 2.52 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $953.30 million for the quarter, compared to the consensus estimate of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. Research analysts forecast that Trimble Inc. will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the sale, the chief executive officer now directly owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the sale, the chief executive officer now directly owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,182 shares of company stock valued at $318,636. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TRMB has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. Raymond James reissued an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

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.