Hsbc Holdings PLC Decreases Stock Position in Trimble Inc. (NASDAQ:TRMB)

Hsbc Holdings PLC reduced its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,660 shares of the scientific and technical instruments company’s stock after selling 63,934 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of Trimble worth $24,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV increased its stake in shares of Trimble by 22.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 16,611 shares of the scientific and technical instruments company’s stock worth $929,000 after purchasing an additional 3,026 shares in the last quarter. Argent Trust Co increased its position in Trimble by 97.4% during the second quarter. Argent Trust Co now owns 6,284 shares of the scientific and technical instruments company’s stock worth $351,000 after buying an additional 3,100 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Trimble in the second quarter worth $331,000. Dimensional Fund Advisors LP lifted its position in shares of Trimble by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after acquiring an additional 361,421 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Trimble during the second quarter valued at $52,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TRMB. Robert W. Baird boosted their target price 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. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Down 2.7 %

Shares of TRMB opened at $58.57 on Friday. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company’s fifty day moving average is $55.34 and its two-hundred day moving average is $57.44. The firm has a market cap of $14.30 billion, a PE ratio of 61.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

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