Trimble Inc. (NASDAQ:TRMB) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 39.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,847 shares of the scientific and technical instruments company’s stock after selling 11,541 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Trimble were worth $998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new position in Trimble during the fourth quarter worth about $26,000. Tobam purchased a new stake in shares of Trimble in the first quarter valued at about $35,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Trimble by 303.2% in the second 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. lifted its holdings in shares of Trimble by 96.0% in the second 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, Principal Securities Inc. purchased a new stake in shares of Trimble in the fourth quarter valued at about $52,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the topic of several recent research reports. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird increased their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trimble currently has an average rating of “Moderate Buy” and a consensus price target of $65.33.

Trimble Price Performance

Shares of TRMB stock opened at $58.31 on Wednesday. The firm has a market cap of $14.24 billion, a P/E ratio of 60.57, a P/E/G ratio of 2.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The firm has a fifty day moving average of $55.13 and a two-hundred day moving average of $57.50.

Trimble (NASDAQ:TRMB) last posted 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 40.70% and a return on equity of 10.94%. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period last year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, research analysts anticipate that Trimble Inc. will post 2.22 earnings per share for the current fiscal 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.