Crossmark Global Holdings Inc. Lowers Position in Trimble Inc. (NASDAQ:TRMB)

Crossmark Global Holdings Inc. trimmed its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,814 shares of the scientific and technical instruments company’s stock after selling 679 shares during the period. Crossmark Global Holdings Inc.’s holdings in Trimble were worth $940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atria Wealth Solutions Inc. grew its position in shares of Trimble by 16.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,056 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 697 shares in the last quarter. Truist Financial Corp grew its holdings in Trimble by 56.7% during the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after buying an additional 14,074 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Trimble by 33.8% in the 4th quarter. Russell Investments Group Ltd. now owns 214,096 shares of the scientific and technical instruments company’s stock worth $11,410,000 after acquiring an additional 54,136 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Trimble by 69.4% during the 4th quarter. Victory Capital Management Inc. now owns 272,125 shares of the scientific and technical instruments company’s stock worth $14,477,000 after acquiring an additional 111,511 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Trimble by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after acquiring an additional 196 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Raymond James reiterated an “outperform” rating and issued a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.33.

Trimble Trading Up 0.6 %

Shares of NASDAQ TRMB opened at $56.69 on Friday. The business’s 50 day moving average price is $55.15 and its 200-day moving average price is $57.91. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. 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 cap of $13.84 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 2.55 and a beta of 1.50.

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

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.