Franklin Resources Inc. Reduces Position in Trimble Inc. (NASDAQ:TRMB)

Franklin Resources Inc. trimmed its position in Trimble Inc. (NASDAQ:TRMBFree Report) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,808 shares of the scientific and technical instruments company’s stock after selling 4,120 shares during the quarter. Franklin Resources Inc.’s holdings in Trimble were worth $2,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Trimble by 49.9% during the third quarter. Victory Capital Management Inc. now owns 160,614 shares of the scientific and technical instruments company’s stock valued at $8,651,000 after acquiring an additional 53,465 shares during the last quarter. Jump Financial LLC grew its position in shares of Trimble by 205.1% in the 3rd quarter. Jump Financial LLC now owns 22,224 shares of the scientific and technical instruments company’s stock worth $1,197,000 after buying an additional 14,941 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Trimble during the third quarter valued at approximately $285,000. J.P. Morgan Private Wealth Advisors LLC raised its holdings in shares of Trimble by 7.0% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 4,092 shares of the scientific and technical instruments company’s stock valued at $220,000 after acquiring an additional 268 shares in the last quarter. Finally, Banco Santander S.A. lifted its stake in Trimble by 6.5% in the third quarter. Banco Santander S.A. now owns 12,403 shares of the scientific and technical instruments company’s stock worth $668,000 after acquiring an additional 759 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TRMB. Raymond James reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Trimble in a research report on Wednesday, May 15th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

View Our Latest Stock Analysis on Trimble

Trimble Trading Down 2.1 %

Trimble stock opened at $54.50 on Tuesday. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $59.02 and its two-hundred day simple moving average is $55.62. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 56.77, a price-to-earnings-growth ratio of 2.52 and a beta of 1.52.

Trimble (NASDAQ:TRMBGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $953.30 million for the quarter, compared to the consensus estimate of $921.15 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. As a group, equities analysts predict that Trimble Inc. will post 2.21 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction on 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 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 the SEC website. In other news, 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 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 hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares in the company, valued at approximately $11,771,371.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,093 shares of company stock valued at $564,872. 0.47% of the stock is owned by corporate insiders.

About Trimble

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

Receive News & Ratings for Trimble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble and related companies with MarketBeat.com's FREE daily email newsletter.