New York State Teachers Retirement System Sells 11,743 Shares of Trimble Inc. (NASDAQ:TRMB)

New York State Teachers Retirement System cut its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,190 shares of the scientific and technical instruments company’s stock after selling 11,743 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Trimble worth $12,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TRMB. Victory Capital Management Inc. raised its holdings in Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after buying an additional 3,589,249 shares during the last quarter. AQR Capital Management LLC raised its holdings in Trimble by 2,035.1% during the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after buying an additional 1,093,275 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after buying an additional 516,789 shares during the last quarter. Capital Group Private Client Services Inc. raised its holdings in Trimble by 77.8% during the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock worth $57,383,000 after buying an additional 390,171 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Trimble by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after buying an additional 361,421 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

NASDAQ TRMB opened at $61.21 on Friday. Trimble Inc. has a 52-week low of $40.72 and a 52-week high of $65.55. The company has a 50-day simple moving average of $59.30 and a 200 day simple moving average of $57.16. 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 2.71 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts predict that Trimble Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

TRMB has been the subject of several analyst reports. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. JPMorgan Chase & Co. increased their target price 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, Robert W. Baird increased their target price on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.40.

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.