Northern Trust Corp Decreases Stake in Trimble Inc. (NASDAQ:TRMB)

Northern Trust Corp reduced its holdings in Trimble Inc. (NASDAQ:TRMBFree Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,667,928 shares of the scientific and technical instruments company’s stock after selling 33,430 shares during the period. Northern Trust Corp owned approximately 1.07% of Trimble worth $141,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new position in shares of Trimble in the fourth quarter worth about $26,000. Operose Advisors LLC purchased a new position in shares of Trimble in the third quarter worth about $43,000. Principal Securities Inc. purchased a new position in shares of Trimble in the fourth quarter worth about $52,000. Criterion Capital Advisors LLC purchased a new position in shares of Trimble in the fourth quarter worth about $67,000. Finally, First Horizon Advisors Inc. increased its position in Trimble by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock worth $68,000 after purchasing an additional 196 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Price Performance

Trimble stock opened at $55.36 on Tuesday. The company’s 50 day simple moving average is $58.29 and its 200-day simple moving average is $55.94. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 57.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.52. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00.

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

Insider Buying and Selling

In related news, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the sale, the chief executive officer now directly owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the sale, the chief executive officer now directly owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Peter Large sold 1,447 shares of the company’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 sale, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The disclosure for this sale can be found here. Insiders have sold a total of 5,593 shares of company stock valued at $344,617 in the last ninety days. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a research note on Monday, May 6th. Raymond James reaffirmed an “outperform” rating and set a $65.00 target price on shares of Trimble in a research note on Wednesday, May 15th. Finally, Robert W. Baird lifted their target price on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.67.

View Our Latest Report on TRMB

Trimble Profile

(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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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