Tredje AP fonden Sells 611 Shares of Trimble Inc. (NASDAQ:TRMB)

Tredje AP fonden cut its position in shares of Trimble Inc. (NASDAQ:TRMB) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,705 shares of the scientific and technical instruments company’s stock after selling 611 shares during the quarter. Tredje AP fonden’s holdings in Trimble were worth $2,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC bought a new stake in shares of Trimble during the 4th quarter valued at $26,000. Tobam bought a new stake in Trimble during the first quarter worth about $35,000. GPS Wealth Strategies Group LLC grew its holdings in Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. increased its stake in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble during the second quarter valued at approximately $48,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird upped their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trimble currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Up 3.7 %

Shares of Trimble stock opened at $60.20 on Friday. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The company’s fifty day simple moving average is $55.24 and its 200-day simple moving average is $57.48. 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 $14.70 billion, a PE ratio of 62.71, a P/E/G ratio of 2.63 and a beta of 1.48.

Trimble (NASDAQ:TRMB) last released its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. Trimble’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, equities analysts anticipate 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.