Handelsbanken Fonder AB Sells 22,834 Shares of Trimble Inc. (NASDAQ:TRMB)

Handelsbanken Fonder AB trimmed its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,631 shares of the scientific and technical instruments company’s stock after selling 22,834 shares during the quarter. Handelsbanken Fonder AB’s holdings in Trimble were worth $2,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Criterion Capital Advisors LLC bought a new position in Trimble during the fourth quarter worth $67,000. Grandfield & Dodd LLC boosted its position in shares of Trimble by 5.8% in the fourth quarter. Grandfield & Dodd LLC now owns 386,761 shares of the scientific and technical instruments company’s stock valued at $20,576,000 after acquiring an additional 21,358 shares during the period. abrdn plc boosted its position in shares of Trimble by 17.5% in the fourth quarter. abrdn plc now owns 487,061 shares of the scientific and technical instruments company’s stock valued at $25,912,000 after acquiring an additional 72,487 shares during the period. Hunter Associates Investment Management LLC boosted its position in shares of Trimble by 51.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after acquiring an additional 13,899 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Trimble by 13.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock valued at $276,080,000 after acquiring an additional 603,020 shares during the period. 93.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research report on Monday, April 15th. Robert W. Baird boosted their target price on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, Oppenheimer boosted their price target on Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $64.83.

Trimble Stock Up 1.6 %

TRMB stock opened at $60.15 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The company has a market cap of $14.69 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 2.65 and a beta of 1.50. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The business has a 50-day simple moving average of $61.72 and a 200 day simple moving average of $53.44.

Trimble (NASDAQ:TRMB) last issued its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Sell-side analysts anticipate that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the sale, the senior vice president now owns 8,220 shares in the company, valued at $485,802. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,828 shares of company stock valued at $1,013,519. 0.47% of the stock is currently owned by corporate insiders.

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.