Sonen Capital LLC Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

Sonen Capital LLC increased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 92.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,365 shares of the scientific and technical instruments company’s stock after buying an additional 6,431 shares during the quarter. Trimble comprises approximately 1.3% of Sonen Capital LLC’s investment portfolio, making the stock its 22nd biggest holding. Sonen Capital LLC’s holdings in Trimble were worth $711,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TRMB. Tokio Marine Asset Management Co. Ltd. raised its position in Trimble by 3.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,027 shares of the scientific and technical instruments company’s stock worth $374,000 after buying an additional 243 shares during the last quarter. D.B. Root & Company LLC boosted its holdings in Trimble by 1.6% in the fourth quarter. D.B. Root & Company LLC now owns 15,500 shares of the scientific and technical instruments company’s stock valued at $825,000 after purchasing an additional 244 shares during the last quarter. M&T Bank Corp grew its position in Trimble by 2.1% during the 3rd quarter. M&T Bank Corp now owns 12,220 shares of the scientific and technical instruments company’s stock worth $659,000 after purchasing an additional 249 shares during the period. J.P. Morgan Private Wealth Advisors LLC raised its stake in shares of Trimble by 7.0% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 4,092 shares of the scientific and technical instruments company’s stock valued at $220,000 after buying an additional 268 shares during the last quarter. Finally, Caprock Group LLC raised its stake in shares of Trimble by 2.5% during the 3rd quarter. Caprock Group LLC now owns 12,305 shares of the scientific and technical instruments company’s stock valued at $663,000 after buying an additional 303 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trimble

In other news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction on 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 owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the sale, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,828 shares of company stock valued at $1,013,519. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several analyst reports. Robert W. Baird raised their target price on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Oppenheimer raised their price target 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.83.

Trimble Stock Up 1.6 %

Shares of NASDAQ TRMB opened at $60.15 on Friday. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 48.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.50. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The company’s 50-day simple moving average is $61.72 and its 200-day simple moving average is $53.51. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $932.40 million during 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%. Trimble’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. Equities analysts predict that Trimble Inc. will post 2.23 EPS for the current fiscal year.

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.