Sumitomo Life Insurance Co. Has $2.35 Million Stake in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Life Insurance Co. trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 44,138 shares of the scientific and technical instruments company’s stock after selling 1,768 shares during the period. Sumitomo Life Insurance Co.’s holdings in Trimble were worth $2,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRMB. Schonfeld Strategic Advisors LLC grew its holdings in Trimble by 383.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock worth $11,881,000 after acquiring an additional 174,917 shares during the last quarter. Barclays PLC grew its stake in shares of Trimble by 43.6% in the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after purchasing an additional 176,139 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Trimble by 10.6% in the third quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company’s stock valued at $84,067,000 after purchasing an additional 150,125 shares during the period. Raymond James & Associates lifted its holdings in Trimble by 126.1% during the 4th quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock worth $7,121,000 after buying an additional 74,667 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Trimble in the second quarter valued at about $4,647,000. 93.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trimble

In other news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now directly owns 187,055 shares in the company, valued at approximately $11,771,371.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the sale, the vice president now owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,146 shares of company stock valued at $913,634. Corporate insiders own 0.61% of the company’s stock.

Trimble Stock Down 2.4 %

TRMB stock opened at $60.54 on Monday. The stock’s 50 day simple moving average is $60.90 and its 200 day simple moving average is $53.04. The company has a market cap of $14.87 billion, a P/E ratio of 48.43, a price-to-earnings-growth ratio of 2.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The firm had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts expect that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Oppenheimer boosted their target price on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Piper Sandler reiterated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Robert W. Baird upped their target price on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and a consensus target price of $64.83.

About Trimble

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.