Daiwa Securities Group Inc. Decreases Stock Position in Trimble Inc. (NASDAQ:TRMB)

Daiwa Securities Group Inc. trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMBFree Report) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 226,853 shares of the scientific and technical instruments company’s stock after selling 26,393 shares during the period. Daiwa Securities Group Inc. owned approximately 0.09% of Trimble worth $12,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Trimble by 319,324.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 77,939,600 shares of the scientific and technical instruments company’s stock worth $4,126,122,000 after acquiring an additional 77,915,200 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Trimble by 86,928.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,426,266 shares of the scientific and technical instruments company’s stock worth $223,792,000 after purchasing an additional 4,421,180 shares during the last quarter. Morgan Stanley grew its position in Trimble by 283.9% in the 4th quarter. Morgan Stanley now owns 5,530,548 shares of the scientific and technical instruments company’s stock worth $279,625,000 after purchasing an additional 4,089,901 shares during the period. Norges Bank purchased a new stake in Trimble during the 4th quarter valued at $162,931,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Trimble by 131.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,550,902 shares of the scientific and technical instruments company’s stock worth $290,979,000 after buying an additional 3,155,709 shares during the last quarter. Institutional investors own 90.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler upped their price objective on Trimble from $42.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. The Goldman Sachs Group reduced their price target on shares of Trimble from $66.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Raymond James raised shares of Trimble from a “market perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Friday, September 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Trimble from $56.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $53.50.

Read Our Latest Research Report on TRMB

Trimble Stock Performance

Shares of NASDAQ TRMB opened at $49.30 on Thursday. The stock has a market cap of $12.26 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 2.25 and a beta of 1.48. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $62.01. The firm has a fifty day moving average price of $48.33 and a 200-day moving average price of $50.42. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.07.

Trimble (NASDAQ:TRMBGet Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. Trimble had a return on equity of 12.87% and a net margin of 8.97%. The business had revenue of $957.30 million during the quarter, compared to analyst estimates of $964.41 million. Equities analysts anticipate that Trimble Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, VP Ronald Bisio sold 3,800 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $43.24, for a total transaction of $164,312.00. Following the completion of the sale, the vice president now directly owns 72,328 shares of the company’s stock, valued at approximately $3,127,462.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Darryl R. Matthews sold 2,500 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $41.08, for a total transaction of $102,700.00. Following the completion of the transaction, the senior vice president now directly owns 53,638 shares of the company’s stock, valued at $2,203,449.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Ronald Bisio sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $43.24, for a total value of $164,312.00. Following the transaction, the vice president now owns 72,328 shares of the company’s stock, valued at approximately $3,127,462.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,428 shares of company stock valued at $781,087. 0.61% of the stock is owned by company insiders.

About Trimble

(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 route selection and design; 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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