Truist Financial Corp Purchases 14,074 Shares of Trimble Inc. (NASDAQ:TRMB)

Truist Financial Corp grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 56.7% during the 4th quarter, HoldingsChannel reports. The fund owned 38,884 shares of the scientific and technical instruments company’s stock after acquiring an additional 14,074 shares during the quarter. Truist Financial Corp’s holdings in Trimble were worth $2,069,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Trimble by 3.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,463 shares of the scientific and technical instruments company’s stock worth $887,000 after purchasing an additional 550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trimble by 9.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,124 shares of the scientific and technical instruments company’s stock valued at $5,877,000 after acquiring an additional 9,468 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Trimble by 5.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 45,060 shares of the scientific and technical instruments company’s stock valued at $2,427,000 after acquiring an additional 2,398 shares during the period. Advisor Partners II LLC grew its position in Trimble by 20.4% during the 3rd quarter. Advisor Partners II LLC now owns 8,657 shares of the scientific and technical instruments company’s stock worth $466,000 after acquiring an additional 1,464 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Trimble by 16.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,943 shares of the scientific and technical instruments company’s stock worth $159,000 after purchasing an additional 418 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

TRMB stock opened at $56.78 on Friday. The firm has a 50-day moving average of $61.17 and a 200 day moving average of $53.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. The company has a market cap of $13.87 billion, a P/E ratio of 59.15, a PEG ratio of 2.51 and a beta of 1.51. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55.

Trimble (NASDAQ:TRMB) last released its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $932.40 million during the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. On average, sell-side analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Robert W. Baird increased their target price on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Monday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Insider Transactions at Trimble

In related news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at approximately $485,802. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at approximately $485,802. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the sale, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The disclosure for this sale can be found here. Insiders have sold 16,828 shares of company stock valued at $1,013,519 in the last three months. 0.47% of the stock is currently owned by company insiders.

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.