Trimble Inc. (NASDAQ:TRMB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 8.4% during the third quarter, HoldingsChannel.com reports. The fund owned 32,572 shares of the scientific and technical instruments company’s stock after selling 2,995 shares during the quarter. State of Alaska Department of Revenue’s holdings in Trimble were worth $2,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Trimble by 25.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after acquiring an additional 60,409 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Trimble by 484.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after buying an additional 75,182 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Trimble by 11.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock valued at $15,960,000 after buying an additional 24,938 shares during the period. Trustmark National Bank Trust Department acquired a new stake in Trimble in the first quarter valued at $579,000. Finally, Swedbank AB acquired a new stake in shares of Trimble in the first quarter valued at about $17,937,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Robert W. Baird upped their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Trading Up 1.2 %

Shares of TRMB opened at $61.21 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The company has a market capitalization of $14.95 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. The stock has a fifty day moving average of $59.30 and a two-hundred day moving average of $57.16. Trimble Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $65.55.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping 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 company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period last year, the business posted $0.51 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

Trimble 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.