AdvisorNet Financial Inc Reduces Position in Trimble Inc. (NASDAQ:TRMB)

AdvisorNet Financial Inc cut its holdings in shares of Trimble Inc. (NASDAQ:TRMBGet Rating) by 32.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 777 shares of the scientific and technical instruments company’s stock after selling 372 shares during the quarter. AdvisorNet Financial Inc’s holdings in Trimble were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in Trimble by 9.5% during the first quarter. Xponance Inc. now owns 17,851 shares of the scientific and technical instruments company’s stock valued at $1,288,000 after purchasing an additional 1,546 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Trimble by 3.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,828,225 shares of the scientific and technical instruments company’s stock valued at $159,403,000 after buying an additional 66,242 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Trimble by 10.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,409 shares of the scientific and technical instruments company’s stock valued at $534,000 after buying an additional 730 shares during the period. Capital International Sarl increased its position in shares of Trimble by 3.4% during the first quarter. Capital International Sarl now owns 124,244 shares of the scientific and technical instruments company’s stock valued at $8,963,000 after buying an additional 4,059 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Trimble by 2.0% during the first quarter. Arizona State Retirement System now owns 69,870 shares of the scientific and technical instruments company’s stock valued at $5,040,000 after buying an additional 1,363 shares during the period. 90.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Trimble in a research report on Tuesday, August 16th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their price target on Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Piper Sandler cut shares of Trimble from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $82.00 to $70.00 in a research report on Thursday, September 8th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Friday, September 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.40.

Insider Buying and Selling at Trimble

In other Trimble news, VP James Joel Langley sold 14,076 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $68.00, for a total transaction of $957,168.00. Following the transaction, the vice president now directly owns 1 shares in the company, valued at $68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP James A. Kirkland sold 5,412 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $71.53, for a total transaction of $387,120.36. Following the completion of the sale, the senior vice president now owns 65,132 shares of the company’s stock, valued at $4,658,891.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James Joel Langley sold 14,076 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $68.00, for a total value of $957,168.00. Following the sale, the vice president now directly owns 1 shares of the company’s stock, valued at approximately $68. The disclosure for this sale can be found here. Insiders have sold 25,676 shares of company stock worth $1,785,537 over the last ninety days. Insiders own 0.43% of the company’s stock.

Trimble Stock Down 1.0 %

TRMB stock opened at $56.79 on Friday. Trimble Inc. has a 1-year low of $55.35 and a 1-year high of $91.96. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $65.02 and its 200 day moving average is $65.42. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.58.

Trimble (NASDAQ:TRMBGet Rating) last issued its quarterly earnings results on Friday, August 5th. The scientific and technical instruments company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Trimble had a net margin of 13.76% and a return on equity of 14.63%. The business had revenue of $941.20 million for the quarter, compared to analysts’ expectations of $928.99 million. During the same period last year, the business earned $0.61 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts predict that Trimble Inc. will post 2.36 EPS for the current fiscal year.

Trimble Profile

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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 route selection and design; 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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