Hartford Investment Management Co. Decreases Position in Trimble Inc. (NASDAQ:TRMB)

Hartford Investment Management Co. cut its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,503 shares of the scientific and technical instruments company’s stock after selling 181 shares during the period. Hartford Investment Management Co.’s holdings in Trimble were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRMB. Tobam purchased a new stake in Trimble during the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC grew its stake in shares of Trimble by 303.2% during the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. grew 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 buying an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Trimble during the second quarter valued at approximately $48,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Trimble during the second quarter valued at approximately $52,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Up 0.6 %

Trimble stock opened at $60.90 on Friday. The business has a fifty day moving average of $58.81 and a two-hundred day moving average of $57.16. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The firm has a market cap of $14.87 billion, a P/E ratio of 9.95, a P/E/G ratio of 2.70 and a beta of 1.49. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. Trimble’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, analysts forecast that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Robert W. Baird upped their target price on 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 target price on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.67.

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.