Allstate Corp Makes New $740,000 Investment in Trimble Inc. $TRMB

Allstate Corp bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,067 shares of the scientific and technical instruments company’s stock, valued at approximately $740,000.

Other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in shares of Trimble during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in Trimble in the second quarter worth approximately $34,000. Global Retirement Partners LLC grew its stake in Trimble by 78.7% in the third quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 181 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Trimble by 55.4% during the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 169 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Trimble during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TRMB shares. Zacks Research lowered shares of Trimble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Oppenheimer reiterated an “outperform” rating and set a $102.00 price objective on shares of Trimble in a report on Thursday, November 6th. Piper Sandler reissued an “overweight” rating and set a $97.00 target price on shares of Trimble in a research report on Friday, November 7th. Wells Fargo & Company assumed coverage on Trimble in a research note on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target for the company. Finally, Berenberg Bank set a $95.00 price objective on Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average price target of $96.78.

Insider Activity at Trimble

In other news, Director James Calvin Dalton sold 616 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $81.99, for a total value of $50,505.84. Following the completion of the transaction, the director owned 13,193 shares in the company, valued at $1,081,694.07. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kaigham Gabriel sold 1,718 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the sale, the director directly owned 15,170 shares in the company, valued at $1,228,770. This trade represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 27,084 shares of company stock valued at $2,183,951. 0.54% of the stock is currently owned by company insiders.

Trimble Trading Up 1.8%

Shares of Trimble stock opened at $71.48 on Friday. The company’s 50-day moving average price is $79.16 and its 200-day moving average price is $80.32. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 2.45 and a beta of 1.59.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Trimble had a net margin of 9.93% and a return on equity of 10.73%. The business had revenue of $901.20 million during the quarter, compared to analyst estimates of $870.30 million. During the same period in the previous year, the business posted $0.83 earnings per share. Trimble’s revenue for the quarter was up 2.9% on a year-over-year basis. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. On average, equities analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble announced that its board has approved a stock repurchase program on Friday, December 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.