Trimble Inc. (NASDAQ:TRMB) Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in Trimble Inc. (NASDAQ:TRMB) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 951,967 shares of the scientific and technical instruments company’s stock after buying an additional 171,637 shares during the period. New York State Common Retirement Fund’s holdings in Trimble were worth $50,645,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. D.B. Root & Company LLC increased its position in Trimble by 1.6% in the fourth quarter. D.B. Root & Company LLC now owns 15,500 shares of the scientific and technical instruments company’s stock worth $825,000 after buying an additional 244 shares during the period. M&T Bank Corp increased its holdings in shares of Trimble by 2.1% during the third quarter. M&T Bank Corp now owns 12,220 shares of the scientific and technical instruments company’s stock valued at $659,000 after purchasing an additional 249 shares during the period. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Trimble by 7.0% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 4,092 shares of the scientific and technical instruments company’s stock valued at $220,000 after purchasing an additional 268 shares during the period. Caprock Group LLC increased its holdings in shares of Trimble by 2.5% during the third quarter. Caprock Group LLC now owns 12,305 shares of the scientific and technical instruments company’s stock valued at $663,000 after purchasing an additional 303 shares during the period. Finally, Wahed Invest LLC increased its holdings in shares of Trimble by 9.5% during the third quarter. Wahed Invest LLC now owns 3,884 shares of the scientific and technical instruments company’s stock valued at $209,000 after purchasing an additional 337 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Up 1.3 %

TRMB opened at $59.69 on Wednesday. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The business has a 50-day moving average of $61.71 and a 200-day moving average of $53.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. The company has a market capitalization of $14.58 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 2.64 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The company had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same period last year, the business earned $0.52 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Oppenheimer lifted their target price on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.83.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trimble news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock valued at $1,013,519 in the last three months. Corporate insiders own 0.47% of the company’s stock.

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.