Swedbank AB Buys 25,259 Shares of Trimble Inc. $TRMB

Swedbank AB lifted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 317,542 shares of the scientific and technical instruments company’s stock after purchasing an additional 25,259 shares during the quarter. Swedbank AB owned 0.13% of Trimble worth $25,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its position in Trimble by 1.1% in the third quarter. Vontobel Holding Ltd. now owns 549,589 shares of the scientific and technical instruments company’s stock valued at $44,874,000 after buying an additional 6,065 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Trimble by 40.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 12,076 shares of the scientific and technical instruments company’s stock valued at $986,000 after acquiring an additional 3,475 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Trimble by 4.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 46,718 shares of the scientific and technical instruments company’s stock valued at $3,795,000 after acquiring an additional 1,806 shares in the last quarter. Farther Finance Advisors LLC grew its position in Trimble by 31.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,375 shares of the scientific and technical instruments company’s stock worth $194,000 after acquiring an additional 571 shares during the last quarter. Finally, Capital Insight Partners LLC increased its holdings in Trimble by 5.3% in the 3rd quarter. Capital Insight Partners LLC now owns 8,568 shares of the scientific and technical instruments company’s stock worth $700,000 after purchasing an additional 433 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and set a $97.00 target price on shares of Trimble in a report on Friday, November 7th. Oppenheimer reaffirmed an “outperform” rating and set a $102.00 price target on shares of Trimble in a research note on Thursday, November 6th. Finally, Wells Fargo & Company assumed coverage on shares of Trimble in a report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $96.67.

Trimble Stock Performance

NASDAQ:TRMB opened at $79.69 on Friday. The company has a market capitalization of $18.96 billion, a PE ratio of 54.58, a P/E/G ratio of 3.12 and a beta of 1.60. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 1.00. The company has a 50 day simple moving average of $79.90 and a two-hundred day simple moving average of $79.80.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $856.50 million for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. Research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble declared that its board has initiated a share buyback program on Friday, December 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Phillip Sawarynski sold 2,250 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total transaction of $181,012.50. Following the sale, the chief financial officer owned 25,684 shares in the company, valued at $2,066,277.80. This represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kaigham Gabriel sold 1,718 shares of Trimble stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the sale, the director owned 15,170 shares of the company’s stock, valued at approximately $1,228,770. The trade was a 10.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,084 shares of company stock valued at $2,144,726 over the last 90 days. 0.54% of the stock is owned by company insiders.

Trimble Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.