Westpac Banking Corp Sells 67,758 Shares of Trimble Inc. (NASDAQ:TRMB)

Westpac Banking Corp cut its position in Trimble Inc. (NASDAQ:TRMB) by 53.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,538 shares of the scientific and technical instruments company’s stock after selling 67,758 shares during the quarter. Westpac Banking Corp’s holdings in Trimble were worth $3,152,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its position in Trimble by 12.9% during the first quarter. American Century Companies Inc. now owns 6,672 shares of the scientific and technical instruments company’s stock valued at $481,000 after acquiring an additional 760 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Trimble during the 1st quarter valued at $271,000. Dimensional Fund Advisors LP boosted its position in shares of Trimble by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,140,027 shares of the scientific and technical instruments company’s stock worth $82,251,000 after purchasing an additional 6,402 shares in the last quarter. Prudential PLC purchased a new position in Trimble during the 1st quarter worth $371,000. Finally, National Pension Service increased its position in Trimble by 5.1% during the 1st quarter. National Pension Service now owns 440,758 shares of the scientific and technical instruments company’s stock valued at $31,796,000 after buying an additional 21,426 shares in the last quarter. 90.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trimble

In related news, SVP Peter Large sold 1,020 shares of Trimble stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $53.00, for a total value of $54,060.00. Following the sale, the senior vice president now owns 2,076 shares of the company’s stock, valued at approximately $110,028. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Darryl R. Matthews sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $41.08, for a total value of $102,700.00. Following the transaction, the senior vice president now owns 53,638 shares in the company, valued at $2,203,449.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Peter Large sold 1,020 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $53.00, for a total value of $54,060.00. Following the sale, the senior vice president now owns 2,076 shares of the company’s stock, valued at $110,028. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,340 shares of company stock valued at $630,757. Company insiders own 0.61% of the company’s stock.

Trimble Price Performance

Shares of Trimble stock traded down $0.39 on Thursday, hitting $42.98. The company’s stock had a trading volume of 315,248 shares, compared to its average volume of 1,271,911. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.92 and a beta of 1.53. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $62.01. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.07 and a current ratio of 1.26. The firm has a fifty day moving average price of $48.59 and a 200-day moving average price of $50.46.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRMB. The Goldman Sachs Group cut their price target on shares of Trimble from $66.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Piper Sandler reduced their target price on shares of Trimble from $51.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Raymond James raised shares of Trimble from a “market perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Friday, September 29th. JPMorgan Chase & Co. decreased their price objective on Trimble from $56.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.86.

Trimble 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 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.