Trimble Inc. (NASDAQ:TRMB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in Trimble Inc. (NASDAQ:TRMB) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,403 shares of the scientific and technical instruments company’s stock after selling 489 shares during the quarter. Kentucky Retirement Systems’ holdings in Trimble were worth $1,029,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after acquiring an additional 273,863 shares in the last quarter. Generation Investment Management LLP grew its position 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Trimble by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after buying an additional 126,472 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Trimble by 3.9% during the fourth quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after buying an additional 188,790 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after buying an additional 3,589,249 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Ratings Changes

TRMB has been the subject of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. raised their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. Finally, Robert W. Baird raised their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Stock Performance

TRMB stock opened at $58.57 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The stock’s fifty day moving average is $55.34 and its two-hundred day moving average is $57.44.

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, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts predict that Trimble Inc. will post 2.22 EPS for the current year.

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.