Allspring Global Investments Holdings LLC Sells 671 Shares of Trimble Inc. (NASDAQ:TRMB)

Allspring Global Investments Holdings LLC lessened its position in Trimble Inc. (NASDAQ:TRMB) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 14,542 shares of the scientific and technical instruments company’s stock after selling 671 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trimble were worth $774,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRMB. Operose Advisors LLC bought a new position in shares of Trimble during the third quarter valued at about $43,000. Orion Capital Management LLC bought a new position in shares of Trimble during the third quarter valued at about $86,000. CVA Family Office LLC bought a new position in shares of Trimble during the fourth quarter valued at about $111,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Trimble by 65.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,634 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 1,039 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Trimble by 16.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,943 shares of the scientific and technical instruments company’s stock valued at $159,000 after buying an additional 418 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Insiders Place Their Bets

In other Trimble news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock worth $1,013,519 over the last three months. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TRMB. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. JPMorgan Chase & Co. raised their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Oppenheimer raised their target price on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, April 15th. Finally, Robert W. Baird raised their target price on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.83.

Trimble Stock Performance

Shares of TRMB opened at $59.51 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The company has a 50-day simple moving average of $61.71 and a two-hundred day simple moving average of $53.36. The firm has a market capitalization of $14.53 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 2.64 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The business had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. During the same period last year, the business posted $0.52 earnings per share. Trimble’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Trimble Inc. will post 2.23 EPS 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.