Northern Trust Corp Cuts Position in Trimble Inc. (NASDAQ:TRMB)

Northern Trust Corp decreased its holdings in Trimble Inc. (NASDAQ:TRMBFree Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,667,928 shares of the scientific and technical instruments company’s stock after selling 33,430 shares during the period. Northern Trust Corp’s holdings in Trimble were worth $141,934,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TRMB. Norges Bank purchased a new position in Trimble in the fourth quarter valued at approximately $132,319,000. Morgan Stanley raised its stake in shares of Trimble by 10.0% during the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock valued at $412,285,000 after purchasing an additional 694,842 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Trimble by 13.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock valued at $276,080,000 after purchasing an additional 603,020 shares during the period. Wellington Management Group LLP raised its stake in shares of Trimble by 2,399.7% during the third quarter. Wellington Management Group LLP now owns 425,330 shares of the scientific and technical instruments company’s stock valued at $22,908,000 after purchasing an additional 408,315 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Trimble by 21.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,466,786 shares of the scientific and technical instruments company’s stock valued at $78,041,000 after purchasing an additional 263,982 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insiders Place Their Bets

In other Trimble news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Trimble news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock valued at $344,617 over the last 90 days. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TRMB. Raymond James reiterated an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. Robert W. Baird lifted their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, May 6th. Finally, Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Read Our Latest Research Report on TRMB

Trimble Stock Up 0.7 %

Shares of NASDAQ:TRMB opened at $55.36 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $58.29 and a 200 day simple moving average of $55.94. The firm has a market cap of $13.52 billion, a PE ratio of 57.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.52. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMBGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $953.30 million during the quarter, compared to the consensus estimate of $921.15 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. On average, equities research analysts anticipate that Trimble Inc. will post 2.21 EPS for the current fiscal year.

Trimble Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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