Trimble Inc. (NASDAQ:TRMB) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in Trimble Inc. (NASDAQ:TRMB) by 7.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,795 shares of the scientific and technical instruments company’s stock after selling 2,325 shares during the period. US Bancorp DE’s holdings in Trimble were worth $1,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRMB. Victory Capital Management Inc. increased its holdings in shares of Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after acquiring an additional 3,589,249 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Trimble by 7.0% during the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after purchasing an additional 239,673 shares during the period. Lazard Asset Management LLC lifted its position in shares of Trimble by 25.4% in the 1st 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. Dimensional Fund Advisors LP boosted its holdings in shares of Trimble by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after buying an additional 361,421 shares during the period. Finally, Saturna Capital Corp grew its position in shares of Trimble by 8.7% during the 1st quarter. Saturna Capital Corp now owns 1,690,347 shares of the scientific and technical instruments company’s stock valued at $108,791,000 after buying an additional 135,108 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

TRMB stock opened at $72.64 on Thursday. The company has a 50-day simple moving average of $59.49 and a 200 day simple moving average of $57.18. The company has a market capitalization of $17.74 billion, a P/E ratio of 11.49, a PEG ratio of 2.75 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Trimble Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $73.17.

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, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. Sell-side analysts predict that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird upped their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.