Teachers Retirement System of The State of Kentucky Decreases Stake in Trimble Inc. (NASDAQ:TRMB)

Teachers Retirement System of The State of Kentucky lessened its stake in Trimble Inc. (NASDAQ:TRMB) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,398 shares of the scientific and technical instruments company’s stock after selling 862 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Trimble were worth $1,138,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC boosted its stake in shares of Trimble by 383.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after buying an additional 174,917 shares during the period. Truist Financial Corp lifted its stake in Trimble by 56.7% during the fourth quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock worth $2,069,000 after purchasing an additional 14,074 shares during the last quarter. Hunter Associates Investment Management LLC lifted its stake in Trimble by 51.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock worth $2,185,000 after purchasing an additional 13,899 shares during the last quarter. Jump Financial LLC lifted its stake in Trimble by 80.9% during the fourth quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock worth $2,139,000 after purchasing an additional 17,979 shares during the last quarter. Finally, Contour Asset Management LLC lifted its stake in Trimble by 14.6% during the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after purchasing an additional 442,131 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity

In other news, CEO Robert G. Painter sold 3,500 shares of the business’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 transaction, the chief executive officer now owns 183,555 shares of the company’s stock, valued at $11,472,187.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Peter Large sold 1,447 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 183,555 shares in the company, valued at approximately $11,472,187.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,182 shares of company stock valued at $318,636. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

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

Trimble Price Performance

Shares of NASDAQ TRMB opened at $56.14 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.88 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 50 day moving average of $57.00 and a two-hundred day moving average of $56.64. The stock has a market cap of $13.71 billion, a P/E ratio of 58.48, a P/E/G 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, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $953.30 million for the quarter, compared to analyst estimates of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. On average, research analysts forecast that Trimble Inc. will post 2.21 earnings per share for the current year.

Trimble Profile

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.