Trimble Inc. (NASDAQ:TRMB) Stock Position Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in Trimble Inc. (NASDAQ:TRMB) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,182 shares of the scientific and technical instruments company’s stock after buying an additional 5,130 shares during the quarter. Handelsbanken Fonder AB’s holdings in Trimble were worth $3,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRMB. Brighton Jones LLC purchased a new stake in Trimble in the 4th quarter worth approximately $211,000. Apollon Wealth Management LLC lifted its position in Trimble by 5.5% in the 4th quarter. Apollon Wealth Management LLC now owns 3,577 shares of the scientific and technical instruments company’s stock worth $253,000 after buying an additional 188 shares in the last quarter. Empowered Funds LLC lifted its position in Trimble by 10.6% in the 4th quarter. Empowered Funds LLC now owns 6,416 shares of the scientific and technical instruments company’s stock worth $453,000 after buying an additional 614 shares in the last quarter. Savant Capital LLC increased its stake in shares of Trimble by 2.2% during the 4th quarter. Savant Capital LLC now owns 11,471 shares of the scientific and technical instruments company’s stock worth $811,000 after purchasing an additional 247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Trimble by 34.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 38,534 shares of the scientific and technical instruments company’s stock worth $2,686,000 after purchasing an additional 9,813 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

NASDAQ:TRMB opened at $71.08 on Friday. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The firm’s fifty day simple moving average is $66.30 and its 200 day simple moving average is $69.67. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $16.96 billion, a PE ratio of 11.67, a PEG ratio of 3.09 and a beta of 1.68.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. Trimble’s revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. On average, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

TRMB has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Oppenheimer increased their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $88.43.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director now directly owns 17,939 shares in the company, valued at $1,286,046.91. This trade represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.54% 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.