Mutual of America Capital Management LLC Sells 675 Shares of Trimble Inc. (NASDAQ:TRMB)

Mutual of America Capital Management LLC cut its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,577 shares of the scientific and technical instruments company’s stock after selling 675 shares during the period. Mutual of America Capital Management LLC’s holdings in Trimble were worth $1,876,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TRMB. Brighton Jones LLC acquired a new position in shares of Trimble in the 4th quarter valued at $211,000. Commonwealth Equity Services LLC lifted its stake in shares of Trimble by 10.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,527 shares of the scientific and technical instruments company’s stock valued at $1,168,000 after purchasing an additional 1,551 shares during the period. Natixis Advisors LLC lifted its stake in shares of Trimble by 2.3% in the 4th quarter. Natixis Advisors LLC now owns 41,584 shares of the scientific and technical instruments company’s stock valued at $2,938,000 after purchasing an additional 943 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Trimble by 59.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,378 shares of the scientific and technical instruments company’s stock valued at $380,000 after purchasing an additional 2,009 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Trimble in the 4th quarter valued at $212,000. 93.21% of the stock is currently owned by institutional investors.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $78.86, for a total value of $591,450.00. Following the completion of the transaction, the chief executive officer directly owned 114,879 shares of the company’s stock, valued at approximately $9,059,357.94. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the transaction, the vice president directly owned 2,882 shares of the company’s stock, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,047 shares of company stock valued at $1,538,152 over the last quarter. 0.54% of the stock is currently owned by insiders.

Trimble Price Performance

TRMB stock opened at $82.04 on Friday. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 3.49 and a beta of 1.67. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $82.44. The company’s fifty day simple moving average is $74.19 and its 200 day simple moving average is $70.36.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. On average, analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRMB. Oppenheimer increased their target price on Trimble from $81.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday. Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on Trimble from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Trimble currently has a consensus rating of “Buy” and an average price target of $89.14.

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.