Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & 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.’s holdings in Trimble were worth $276,080,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Schonfeld Strategic Advisors LLC increased its holdings in shares of Trimble by 383.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after purchasing an additional 174,917 shares during the last quarter. Barclays PLC increased its stake in shares of Trimble by 43.6% in the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after acquiring an additional 176,139 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Trimble by 10.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company’s stock worth $84,067,000 after acquiring an additional 150,125 shares during the period. Raymond James & Associates boosted its position in shares of 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 valued at $7,121,000 after acquiring an additional 74,667 shares during the last quarter. Finally, Comerica Bank purchased 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 and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities 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 note on Friday, February 9th. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Robert W. Baird increased their price objective on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Oppenheimer lifted their target price on Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Finally, Piper Sandler reiterated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.83.

Trimble Stock Performance

Shares of Trimble stock opened at $60.54 on Monday. The business has a 50-day moving average of $60.90 and a 200 day moving average of $53.04. The stock has a market capitalization 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 Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $932.40 million for the quarter, compared to analyst estimates of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. As a group, sell-side analysts forecast that Trimble Inc. will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 5,000 shares of Trimble 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 transaction, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the sale, the chief executive officer now owns 187,055 shares of the company’s stock, valued at $11,771,371.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of Trimble 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 in the company, valued at approximately $137,927.70. The disclosure for this sale can be found here. Insiders sold a total of 15,146 shares of company stock worth $913,634 in the last 90 days. Company insiders own 0.61% of the company’s stock.

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 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.