Trimble Inc. $TRMB Shares Acquired by National Pension Service

National Pension Service boosted its position in Trimble Inc. (NASDAQ:TRMB) by 59.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,235 shares of the scientific and technical instruments company’s stock after buying an additional 14,264 shares during the quarter. National Pension Service’s holdings in Trimble were worth $3,122,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in Trimble in the third quarter valued at about $25,000. Root Financial Partners LLC purchased a new position in shares of Trimble during the 3rd quarter valued at approximately $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Trimble during the second quarter worth approximately $34,000. Global Retirement Partners LLC increased its stake in shares of 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 worth $34,000 after buying an additional 181 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Trimble by 55.4% in 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. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on TRMB. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a report on Wednesday, January 21st. Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price target on shares of Trimble in a research report on Friday, November 7th. Barclays lifted their price target on Trimble from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Wells Fargo & Company started coverage on Trimble in a research note on Thursday, November 13th. They set an “overweight” rating and a $94.00 price objective on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $102.00 target price on shares of Trimble in a report on Thursday, November 6th. One investment 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.78.

Insider Activity at Trimble

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $81.00, for a total transaction of $139,158.00. Following the transaction, the director owned 15,170 shares of the company’s stock, valued at approximately $1,228,770. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Phillip Sawarynski sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total transaction of $181,012.50. Following the completion of the sale, the chief financial officer directly owned 25,684 shares of the company’s stock, valued at approximately $2,066,277.80. This represents a 8.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 27,084 shares of company stock worth $2,183,951. 0.54% of the stock is currently owned by corporate insiders.

Trimble Trading Down 4.8%

NASDAQ:TRMB opened at $64.62 on Wednesday. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86. The business has a 50 day simple moving average of $77.86 and a 200 day simple moving average of $79.68. The firm has a market capitalization of $15.37 billion, a P/E ratio of 44.26, a P/E/G ratio of 2.37 and a beta of 1.59.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $870.30 million. During the same quarter last year, the company earned $0.83 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Trimble declared that its Board of Directors has authorized a stock buyback plan on Friday, December 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Trimble Company Profile

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.