Louisiana State Employees Retirement System Sells 700 Shares of Trimble Inc. (NASDAQ:TRMB)

Louisiana State Employees Retirement System lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,800 shares of the scientific and technical instruments company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Trimble were worth $772,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TRMB. First Horizon Advisors Inc. increased its stake in shares of Trimble by 18.3% during the 4th 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. Fulton Bank N.A. raised its stake in shares of Trimble by 2.6% in the first quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $497,000 after buying an additional 199 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Trimble by 6.8% during the 4th quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 200 shares during the last quarter. Czech National Bank grew its stake in shares of Trimble by 0.5% during the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock worth $2,817,000 after acquiring an additional 201 shares during the period. Finally, SVB Wealth LLC increased its holdings in Trimble by 4.8% in the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

NASDAQ:TRMB opened at $56.35 on Friday. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The stock has a fifty day moving average of $55.14 and a 200 day moving average of $57.89. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 58.70, a P/E/G ratio of 2.55 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. On average, research analysts expect that Trimble Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird increased their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Raymond James reiterated an “outperform” rating and issued a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $73.00 price objective on shares of Trimble in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average price target of $65.33.

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.