Forsta AP Fonden Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

Forsta AP Fonden reduced its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,600 shares of the scientific and technical instruments company’s stock after selling 6,400 shares during the period. Forsta AP Fonden’s holdings in Trimble were worth $2,606,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in shares of Trimble in the fourth quarter worth $26,000. Tobam purchased a new stake in Trimble during the 1st quarter worth about $35,000. GPS Wealth Strategies Group LLC raised its position in Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares in the last quarter. Blue Trust Inc. raised its position in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble in the 2nd quarter valued at about $48,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Price Performance

TRMB stock opened at $56.50 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $13.80 billion, a P/E ratio of 58.85, a PEG ratio of 2.50 and a beta of 1.48. The business has a 50 day simple moving average of $55.08 and a 200-day simple moving average of $57.52. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55.

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 for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm 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%. Trimble’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, equities analysts anticipate that Trimble Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

TRMB has been the topic of several analyst reports. 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 increased their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and an average target price of $65.33.

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.