Gulf International Bank UK Ltd Sells 646 Shares of Trimble Inc. (NASDAQ:TRMB)

Gulf International Bank UK Ltd reduced its position in Trimble Inc. (NASDAQ:TRMB) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,852 shares of the scientific and technical instruments company’s stock after selling 646 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Trimble were worth $1,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Trimble by 1,387.6% in the second 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 buying an additional 3,589,249 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Trimble by 2,035.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after purchasing an additional 1,093,275 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares during the last quarter. Impax Asset Management Group plc increased its position in Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after purchasing an additional 434,065 shares in the last quarter. Finally, Capital Group Private Client Services Inc. lifted its stake in Trimble by 77.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after purchasing an additional 390,171 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of TRMB opened at $72.65 on Friday. The business has a 50-day moving average of $60.46 and a 200-day moving average of $57.49. Trimble Inc. has a 1 year low of $40.79 and a 1 year high of $73.17. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results 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 40.67% and a return on equity of 10.18%. The firm had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same quarter in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that Trimble Inc. will post 2.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TRMB shares. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler lifted their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, Robert W. Baird lifted their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.40.

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.