Nuveen Asset Management LLC Sells 157,235 Shares of Trimble Inc. (NASDAQ:TRMB)

Nuveen Asset Management LLC decreased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,878,991 shares of the scientific and technical instruments company’s stock after selling 157,235 shares during the quarter. Nuveen Asset Management LLC’s holdings in Trimble were worth $132,770,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Trimble during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of Trimble during the fourth quarter valued at about $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Trimble in the fourth quarter worth about $36,000. Larson Financial Group LLC boosted its position in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 422 shares during the period. Finally, Quarry LP grew its stake in Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity at Trimble

In other news, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Trimble Stock Up 0.9%

Shares of NASDAQ TRMB opened at $71.89 on Friday. The stock has a market capitalization of $17.15 billion, a P/E ratio of 11.80, a PEG ratio of 3.09 and a beta of 1.67. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The firm’s 50 day simple moving average is $64.21 and its two-hundred day simple moving average is $69.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on TRMB. Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $88.43.

About Trimble

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.