Southeast Asset Advisors LLC Cuts Stock Position in Trimble Inc. $TRMB

Southeast Asset Advisors LLC lessened its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,844 shares of the scientific and technical instruments company’s stock after selling 660 shares during the period. Southeast Asset Advisors LLC’s holdings in Trimble were worth $3,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management increased its stake in shares of Trimble by 4.7% during the second quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after purchasing an additional 126 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Trimble by 18.4% in the second quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock valued at $69,000 after purchasing an additional 141 shares in the last quarter. Balboa Wealth Partners lifted its position in shares of Trimble by 4.7% during the 2nd quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock worth $243,000 after buying an additional 144 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Trimble by 11.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 159 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in Trimble by 5.6% in the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company’s stock valued at $232,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TRMB shares. Piper Sandler reiterated an “overweight” rating and issued a $97.00 price objective on shares of Trimble in a research note on Friday, November 7th. Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a research note on Friday, October 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company assumed coverage on Trimble in a research note on Thursday, November 13th. They issued an “overweight” rating and a $94.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Trimble currently has an average rating of “Buy” and an average price target of $94.18.

Trimble Stock Performance

NASDAQ TRMB opened at $79.06 on Tuesday. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The stock has a market cap of $18.81 billion, a PE ratio of 68.16, a PEG ratio of 3.26 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The firm’s fifty day moving average price is $79.36 and its two-hundred day moving average price is $78.29.

Trimble (NASDAQ:TRMB) last issued its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business had revenue of $856.50 million during the quarter. On average, equities analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at $33,186.44. This trade represents a 94.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total transaction of $139,158.00. Following the completion of the transaction, the director directly owned 15,170 shares in the company, valued at $1,228,770. The trade was a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,692 shares of company stock valued at $1,954,986. Insiders own 0.54% of the company’s stock.

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.