Daiwa Securities Group Inc. Sells 1,836 Shares of Trimble Inc. (NASDAQ:TRMB)

Daiwa Securities Group Inc. lowered its position in shares of Trimble Inc. (NASDAQ:TRMB) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,251 shares of the scientific and technical instruments company’s stock after selling 1,836 shares during the quarter. Daiwa Securities Group Inc. owned 0.06% of Trimble worth $7,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Frazier Financial Advisors LLC bought a new stake in Trimble during the fourth quarter worth $26,000. Tobam bought a new stake in shares of Trimble during the 1st quarter worth $35,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. grew its position in Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Trimble during the second quarter worth about $48,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $54.91 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The stock has a market cap of $13.41 billion, a PE ratio of 57.20, a price-to-earnings-growth ratio of 2.44 and a beta of 1.48. The stock has a fifty day moving average of $55.07 and a 200-day moving average of $57.63.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Trimble Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRMB. Piper Sandler reissued an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Raymond James reiterated an “outperform” rating and set a $65.00 price target on shares of Trimble in a research note on Wednesday, May 15th. Finally, StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.33.

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.