Sumitomo Mitsui Trust Holdings Inc. Boosts Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Trimble Inc. (NASDAQ:TRMB) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,189,469 shares of the scientific and technical instruments company’s stock after purchasing an additional 603,020 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 2.09% of Trimble worth $276,080,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TRMB. Clear Street Markets LLC grew its position in Trimble by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 234 shares during the period. IFP Advisors Inc grew its position in Trimble by 798.1% in the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 415 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Trimble in the 2nd quarter worth approximately $42,000. Operose Advisors LLC bought a new stake in Trimble in the 3rd quarter worth approximately $43,000. Finally, Belpointe Asset Management LLC grew its position in Trimble by 42.3% in the 1st quarter. Belpointe Asset Management LLC now owns 1,026 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 305 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Down 2.4 %

TRMB opened at $60.54 on Monday. 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. The firm’s fifty day moving average is $60.90 and its 200 day moving average is $53.04. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 2.71 and a beta of 1.50.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Piper Sandler reissued an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday. Robert W. Baird boosted their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Oppenheimer boosted their price objective on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.83.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Trimble news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders have sold a total of 15,146 shares of company stock worth $913,634 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.