California Public Employees Retirement System Decreases Stock Position in Trimble Inc. (NASDAQ:TRMB)

California Public Employees Retirement System cut its stake in Trimble Inc. (NASDAQ:TRMB) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 458,090 shares of the scientific and technical instruments company’s stock after selling 17,622 shares during the quarter. California Public Employees Retirement System’s holdings in Trimble were worth $24,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank raised its stake in Trimble by 48.0% in the third quarter. Czech National Bank now owns 43,401 shares of the scientific and technical instruments company’s stock valued at $2,338,000 after buying an additional 14,073 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Trimble by 2.6% in the third quarter. Asset Management One Co. Ltd. now owns 232,460 shares of the scientific and technical instruments company’s stock valued at $12,520,000 after buying an additional 5,884 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Trimble by 46.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 26,134 shares of the scientific and technical instruments company’s stock valued at $1,408,000 after buying an additional 8,271 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Trimble by 51.3% during the third quarter. Sumitomo Life Insurance Co. now owns 45,906 shares of the scientific and technical instruments company’s stock worth $2,472,000 after purchasing an additional 15,556 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Trimble by 30.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 63,814 shares of the scientific and technical instruments company’s stock worth $3,437,000 after purchasing an additional 14,729 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of TRMB opened at $60.15 on Monday. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The stock’s 50 day moving average is $61.72 and its two-hundred day moving average is $53.52. The firm has a market capitalization of $14.69 billion, a PE ratio of 48.12, a P/E/G ratio of 2.70 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results 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. The business had revenue of $932.40 million for the quarter, compared to analyst estimates of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. Research analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter Large sold 1,447 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the transaction, the senior vice president now directly owns 8,220 shares in the company, valued at approximately $485,802. The disclosure for this sale can be found here. Insiders sold a total of 16,828 shares of company stock valued at $1,013,519 in the last ninety days. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

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

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.