Trimble Inc. (NASDAQ:TRMB) Stock Position Decreased by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Trimble Inc. (NASDAQ:TRMB) by 16.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,307 shares of the scientific and technical instruments company’s stock after selling 5,708 shares during the quarter. Federated Hermes Inc.’s holdings in Trimble were worth $1,559,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TRMB. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Trimble by 13.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock valued at $276,080,000 after purchasing an additional 603,020 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Trimble during the fourth quarter worth approximately $798,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Trimble in the fourth quarter valued at approximately $117,000. Cerity Partners LLC grew its stake in shares of Trimble by 181.6% in the fourth quarter. Cerity Partners LLC now owns 12,944 shares of the scientific and technical instruments company’s stock worth $689,000 after acquiring an additional 8,348 shares during the last quarter. Finally, Capital Insight Partners LLC increased its position in Trimble by 11.3% during the fourth quarter. Capital Insight Partners LLC now owns 4,810 shares of the scientific and technical instruments company’s stock worth $256,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRMB. Piper Sandler restated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, April 15th. 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. JPMorgan Chase & Co. upped their price target on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Oppenheimer lifted their price objective on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Finally, StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trimble currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.83.

Trimble Stock Performance

Shares of NASDAQ:TRMB opened at $60.67 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. The business’s fifty day moving average price is $61.72 and its two-hundred day moving average price is $53.59. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 48.54, a price-to-earnings-growth ratio of 2.70 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last posted its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share 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 for the quarter, compared to analyst estimates of $908.43 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, analysts predict that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the completion of the sale, the chief executive officer now directly owns 187,055 shares of the company’s stock, valued at approximately $11,771,371.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the completion of the sale, the chief executive officer now owns 187,055 shares of the company’s stock, valued at approximately $11,771,371.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,828 shares of company stock worth $1,013,519. Insiders own 0.47% of the company’s stock.

Trimble Company 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.