American International Group Inc. Sells 476 Shares of Trimble Inc. (NASDAQ:TRMB)

American International Group Inc. reduced its position in shares of Trimble Inc. (NASDAQ:TRMB) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,214 shares of the scientific and technical instruments company’s stock after selling 476 shares during the quarter. American International Group Inc.’s holdings in Trimble were worth $3,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Generation Investment Management LLP raised its stake in shares of Trimble by 89.5% during the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after buying an additional 5,796,030 shares during the last quarter. Norges Bank acquired a new position in shares of Trimble in the 4th quarter valued at $132,319,000. Morgan Stanley boosted its position in shares of Trimble by 10.0% in the 3rd quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock worth $412,285,000 after purchasing an additional 694,842 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Trimble by 13.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock worth $276,080,000 after purchasing an additional 603,020 shares during the period. Finally, Contour Asset Management LLC increased its holdings in Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after purchasing an additional 442,131 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Monday, May 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James reissued an “outperform” rating and set a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Insider Transactions at Trimble

In other Trimble news, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the sale, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at approximately $485,802. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Trimble news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the transaction, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the sale, the chief executive officer now owns 183,555 shares in the company, valued at approximately $11,472,187.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,182 shares of company stock valued at $318,636 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

Trimble Stock Up 0.7 %

Trimble stock opened at $56.14 on Monday. The company has a 50 day moving average of $57.00 and a 200-day moving average of $56.64. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The stock has a market capitalization of $13.71 billion, a PE ratio of 58.48, a price-to-earnings-growth ratio of 2.53 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $953.30 million during the quarter, compared to analysts’ expectations of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. On average, equities research analysts anticipate that Trimble Inc. will post 2.21 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.