Trimble Inc. (NASDAQ:TRMB) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its position in shares of Trimble Inc. (NASDAQ:TRMB) by 51.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,962 shares of the scientific and technical instruments company’s stock after selling 27,428 shares during the period. Bank of Nova Scotia’s holdings in Trimble were worth $1,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRMB. Brighton Jones LLC purchased a new position in Trimble during the fourth quarter worth about $211,000. American Century Companies Inc. boosted its stake in Trimble by 18.1% during the fourth quarter. American Century Companies Inc. now owns 15,421 shares of the scientific and technical instruments company’s stock worth $1,090,000 after buying an additional 2,360 shares during the period. LPL Financial LLC boosted its stake in Trimble by 95.2% during the fourth quarter. LPL Financial LLC now owns 44,839 shares of the scientific and technical instruments company’s stock worth $3,168,000 after buying an additional 21,871 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Trimble by 17.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,595 shares of the scientific and technical instruments company’s stock worth $395,000 after buying an additional 841 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Trimble by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company’s stock worth $1,580,000 after buying an additional 5,472 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TRMB shares. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Oppenheimer raised their price objective on shares of Trimble from $81.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trimble from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $89.14.

Insider Activity at Trimble

In other Trimble news, VP Mark David Schwartz sold 1,404 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the sale, the vice president owned 21,001 shares of the company’s stock, valued at approximately $1,680,080. This trade represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the transaction, the vice president directly owned 2,882 shares in the company, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,047 shares of company stock worth $1,538,152 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Trimble Stock Up 1.7%

Shares of NASDAQ:TRMB opened at $84.13 on Thursday. The firm’s 50 day moving average price is $77.46 and its 200 day moving average price is $71.44. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 3.52 and a beta of 1.69. Trimble Inc. has a fifty-two week low of $50.52 and a fifty-two week high of $87.50. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. 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 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

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.