State of Alaska Department of Revenue Lowers Stake in Trimble Inc. (NASDAQ:TRMB)

State of Alaska Department of Revenue lowered its position in shares of Trimble Inc. (NASDAQ:TRMBGet Rating) by 13.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,600 shares of the scientific and technical instruments company’s stock after selling 10,145 shares during the quarter. State of Alaska Department of Revenue’s holdings in Trimble were worth $3,877,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRMB. Xponance Inc. raised its position in shares of Trimble by 9.5% during the first quarter. Xponance Inc. now owns 17,851 shares of the scientific and technical instruments company’s stock valued at $1,288,000 after buying an additional 1,546 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Trimble by 3.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,828,225 shares of the scientific and technical instruments company’s stock valued at $159,403,000 after buying an additional 66,242 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Trimble by 10.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,409 shares of the scientific and technical instruments company’s stock valued at $534,000 after buying an additional 730 shares during the last quarter. Capital International Sarl raised its position in shares of Trimble by 3.4% during the first quarter. Capital International Sarl now owns 124,244 shares of the scientific and technical instruments company’s stock valued at $8,963,000 after buying an additional 4,059 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Trimble by 2.0% during the first quarter. Arizona State Retirement System now owns 69,870 shares of the scientific and technical instruments company’s stock valued at $5,040,000 after buying an additional 1,363 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Trimble Trading Down 1.9 %

TRMB stock opened at $57.37 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.26. Trimble Inc. has a twelve month low of $55.35 and a twelve month high of $91.96. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.97 and a beta of 1.58. The firm’s fifty day simple moving average is $65.02 and its two-hundred day simple moving average is $65.47.

Trimble (NASDAQ:TRMBGet Rating) last posted its quarterly earnings data on Friday, August 5th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Trimble had a net margin of 13.76% and a return on equity of 14.63%. The business had revenue of $941.20 million for the quarter, compared to analysts’ expectations of $928.99 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate that Trimble Inc. will post 2.36 earnings per share for the current year.

Insider Buying and Selling at Trimble

In other Trimble news, VP James Joel Langley sold 14,076 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $68.00, for a total transaction of $957,168.00. Following the transaction, the vice president now owns 1 shares in the company, valued at $68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP James Joel Langley sold 14,076 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $68.00, for a total transaction of $957,168.00. Following the transaction, the vice president now directly owns 1 shares of the company’s stock, valued at $68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James A. Kirkland sold 5,412 shares of Trimble stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $71.53, for a total transaction of $387,120.36. Following the sale, the senior vice president now directly owns 65,132 shares of the company’s stock, valued at approximately $4,658,891.96. The disclosure for this sale can be found here. Insiders have sold 25,676 shares of company stock worth $1,785,537 over the last quarter. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TRMB. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Friday, September 9th. JPMorgan Chase & Co. reduced their price target on shares of Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Wolfe Research started coverage on shares of Trimble in a research report on Tuesday, August 16th. They issued a “market perform” rating on the stock. Finally, Piper Sandler cut shares of Trimble from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $82.00 to $70.00 in a research report on Thursday, September 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.40.

Trimble Company Profile

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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 route selection and design; 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.

See Also

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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