Trimble Inc. $TRMB Stock Position Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 36.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,707 shares of the scientific and technical instruments company’s stock after selling 214,604 shares during the period. Pictet Asset Management Holding SA owned approximately 0.16% of Trimble worth $21,342,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC acquired a new position in shares of Trimble during the second quarter valued at $25,000. Root Financial Partners LLC bought a new stake in shares of Trimble during the third quarter valued at about $28,000. Vega Investment Solutions acquired a new stake in Trimble in the second quarter worth about $29,000. Heritage Family Offices LLP acquired a new stake in Trimble in the third quarter worth about $36,000. Finally, Global Retirement Partners LLC bought a new position in Trimble in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Buying and Selling at Trimble

In related news, Director Kaigham Gabriel sold 2,476 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $65.00, for a total value of $160,940.00. Following the sale, the director directly owned 14,950 shares in the company, valued at $971,750. The trade was a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TRMB shares. Weiss Ratings raised shares of Trimble from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Sanford C. Bernstein reduced their price target on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Piper Sandler reiterated an “overweight” rating and issued a $87.00 price objective on shares of Trimble in a report on Thursday, August 13th. Oppenheimer lowered their price objective on shares of Trimble from $80.00 to $73.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Finally, Raymond James Financial cut Trimble from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average price target of $78.22.

Trimble Trading Up 3.2%

Shares of TRMB stock opened at $56.48 on Thursday. The stock has a 50-day simple moving average of $59.39 and a 200 day simple moving average of $60.26. Trimble Inc. has a fifty-two week low of $47.92 and a fifty-two week high of $84.42. The stock has a market capitalization of $12.95 billion, a P/E ratio of -80.68, a P/E/G ratio of 1.77 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 0.93 and a debt-to-equity ratio of 0.29.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.86. Trimble had a positive return on equity of 12.73% and a negative net margin of 4.08%. The firm had revenue of $966.80 million for the quarter, compared to analyst estimates of $966.41 million. During the same period in the previous year, the company earned $0.81 earnings per share. Trimble’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that Trimble Inc. will post 3.10 earnings per share for the current fiscal year.

About Trimble

Trimble Inc. develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture. Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.