Davidson Investment Advisors cut its stock position in Trimble Inc. (NASDAQ:TRMB – Get Rating) by 7.3% in the fourth quarter, according to its latest 13F filing with the SEC. The institutional investor owned his 158,843 shares of the tech equipment company after selling his 12,443 shares during the quarter. Davidson Investment Advisors owned approximately 0.06% of Trimble worth $8,031,000 as of the latest SEC filing.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. Massmutual Trust Co. FSB ADV increased his Trimble holdings by 118.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 494 shares of the scientific equipment company worth $27,000 after acquiring an additional 268 shares of him during the period. Ronald Blue Trust Inc. increased his Trimble shareholding by 320.0% in the fourth quarter. Ronald Blue Trust Inc. now owns 546 shares of the tech equipment company worth $30,000 after purchasing an additional 416 shares last quarter. International Assets Investment Management LLC acquired a new stake in his Trimble worth approximately $40,000 in the fourth quarter. Itau Unibanco Holding SA purchased new shares in Trimble worth approximately $67,000 in the third quarter. Finally, Alta Advisers Ltd took a new position with Trimble in the third quarter worth approximately $71,000. An institutional investor owns his 89.49% of the company’s shares.
Trimble shares fell 1.1%
TRMB shares fell $0.54 to $48.39 in intraday trading on Monday. His 427,978 shares of the company’s stock were exchanged, but the average trading volume was his 1,246,514 shares. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt to equity ratio of 0.30. His 12-month low for Trimble Inc. is $47.09 and his 12-month high is $72.24. The company has a 50-day moving average of $51.75 and a 200-day moving average of $54.15. The stock has a market capitalization of $11.95 billion, a price/earnings ratio of 27.04, a P/E/G ratio of 1.70 and a beta of 1.57.
Trimble (NASDAQ:TRMB – Get Rating) last reported earnings on Wednesday, February 8th. The tech-equipment company reported earnings of $0.52 per share for him in the quarter, beating the consensus estimate of $0.51 by $0.01. The company’s revenue for the quarter was $856.5 million, compared with analyst estimates of $872.29 million. Trimble’s return on equity was 14.21% and net profit margin was 12.23%. On average, sell-side analysts expect Trimble Inc. to post earnings per share of 2.27 for the current year.
Insider activity on Trimble
In other Trimble news, director James Calvin Dalton sold 1,500 shares in the company in a transaction on Friday 3 March. The shares sold at an average price of $53.20 for a total transaction value of $79,800.00. Following the closing of the transaction, the Directors now own 1,936 shares of the Company’s stock valued at approximately $102,995.20. The transaction is disclosed in documents filed with the SEC and can be accessed via this hyperlink. In his other Trimble news, SVP Peter Large sold 950 shares of the company in a deal that took place on Wednesday, March 8th. The shares sold at an average price of $51.11, giving him a total of $48,554.50. Following the closing of the sale, the Senior Vice President now owns 154 shares of the company’s stock, valued at approximately $7,870.94. The sale was disclosed in filings with the Securities and Exchange Commission available at this hyperlink. His director, James Calvin Dalton, also sold 1,500 shares of the company in a transaction that took place on Friday, March 3. The shares were sold at an average price of $53.20 for a total of $79,800.00. After the sale, the directors now own 1,936 shares of the company’s stock, valued at $102,995.20. Please see here for the disclosure of this sale. His 0.43% of shares are now owned by insiders.
Analyst sets new price target
Several equity research analysts have recently given weight to the company. Piper Sandler lowered Trimble’s price target from her $65.00 to her $60.00, setting the company’s valuation to “neutral” in a research note on Thursday, Feb. 9. Edward Jones upgraded Trimble’s rating from ‘hold’ to ‘buy’ in a research report on Wednesday, April 5th. In a research report on Thursday, February 9, Robert W. Baird lowered his price target for Trimble from $65.00 to his $63.00, rating the stock “outperforming.” Northcoast Research downgraded Trimble’s rating from ‘neutral’ to ‘sell’ and set a price target for the company at $40.00. In an investigative report on Tuesday, March 7. Finally, StockNews.com began covering his Trimble shares in his investigative report on Thursday, March 16th. They issued a “pending” rating to the company. One research analyst issued a sell rating, six issued hold ratings, and three issued buy ratings. Based on MarketBeat data, the company’s consensus rating is “Hold” with a consensus price target of $59.67.
Trimble, Inc is committed to providing positioning technology solutions. It operates in the Buildings & Infrastructure, Geospatial, Resources & Utilities, and Transportation segments. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.
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