Illinois Municipal Retirement Fund Sells 53,624 Shares of Trimble Inc. (NASDAQ:TRMB)

Illinois Municipal Retirement Fund cut its holdings in Trimble Inc. (NASDAQ:TRMB) by 77.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,523 shares of the scientific and technical instruments company’s stock after selling 53,624 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Trimble were worth $826,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC lifted its stake in shares of Trimble by 383.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after acquiring an additional 174,917 shares during the last quarter. Barclays PLC raised its position in Trimble by 43.6% in the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock valued at $31,254,000 after purchasing an additional 176,139 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in shares of Trimble by 51.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after purchasing an additional 13,899 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Trimble by 126.1% during the fourth quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock worth $7,121,000 after purchasing an additional 74,667 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Trimble by 3.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company’s stock valued at $178,887,000 after buying an additional 95,588 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Price Performance

TRMB stock opened at $60.67 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $61.72 and its 200 day simple moving average is $53.59. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.70 and a beta of 1.50.

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

Insider Transactions at Trimble

In related news, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction 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 in the company, valued at approximately $485,802. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was 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 approximately $485,802. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. 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 quarter. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRMB. Piper Sandler reissued an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, April 15th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Oppenheimer raised 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. Robert W. Baird upped their price target on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.