Elo Mutual Pension Insurance Co Sells 1,489 Shares of Trimble Inc. (NASDAQ:TRMB)

Elo Mutual Pension Insurance Co trimmed its position in Trimble Inc. (NASDAQ:TRMB) by 6.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,241 shares of the scientific and technical instruments company’s stock after selling 1,489 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Trimble were worth $1,188,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TRMB. Principal Securities Inc. bought a new stake in Trimble in the 4th quarter worth about $52,000. Dimensional Fund Advisors LP boosted its stake in Trimble by 21.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,466,786 shares of the scientific and technical instruments company’s stock valued at $78,041,000 after acquiring an additional 263,982 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Trimble in the fourth quarter valued at about $775,000. Norges Bank purchased a new position in Trimble in the fourth quarter valued at about $132,319,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Trimble by 20.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,752 shares of the scientific and technical instruments company’s stock valued at $412,000 after acquiring an additional 1,341 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

NASDAQ TRMB opened at $58.57 on Friday. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The stock has a market capitalization of $14.30 billion, a PE ratio of 61.01, a P/E/G ratio of 2.63 and a beta of 1.48. The company’s 50 day simple moving average is $55.32 and its two-hundred day simple moving average is $57.50.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. Analysts predict that Trimble Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Robert W. Baird upped their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Company 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.