Capital International Sarl Sells 19,729 Shares of Trimble Inc. (NASDAQ:TRMB)

Capital International Sarl reduced its position in shares of Trimble Inc. (NASDAQ:TRMB) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 154,600 shares of the scientific and technical instruments company’s stock after selling 19,729 shares during the period. Capital International Sarl owned 0.06% of Trimble worth $8,225,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRMB. Norges Bank bought a new stake in shares of Trimble in the 4th quarter worth about $132,319,000. Morgan Stanley raised its position in shares of Trimble by 10.0% in the 3rd quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock valued at $412,285,000 after acquiring an additional 694,842 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Trimble by 13.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock worth $276,080,000 after buying an additional 603,020 shares during the period. Wellington Management Group LLP raised its holdings in Trimble by 2,399.7% during the 3rd quarter. Wellington Management Group LLP now owns 425,330 shares of the scientific and technical instruments company’s stock worth $22,908,000 after buying an additional 408,315 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Trimble by 21.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,466,786 shares of the scientific and technical instruments company’s stock worth $78,041,000 after buying an additional 263,982 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

Trimble stock traded up $0.49 during trading hours on Wednesday, hitting $54.49. The company had a trading volume of 641,709 shares, compared to its average volume of 1,382,114. The firm has a market cap of $13.31 billion, a PE ratio of 56.25, a PEG ratio of 2.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The firm has a 50-day moving average of $58.83 and a 200 day moving average of $55.70.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $953.30 million during the quarter, compared to the consensus estimate of $921.15 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. On average, sell-side analysts expect that Trimble Inc. will post 2.21 earnings per share for the current year.

Insider Activity at Trimble

In related news, 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 completion of the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the transaction, the chief executive officer now owns 187,055 shares in the company, valued at approximately $11,771,371.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at approximately $485,802. The disclosure for this sale can be found here. Insiders sold a total of 9,093 shares of company stock valued at $564,872 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRMB. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target on shares of Trimble in a research note on Monday, May 6th. Robert W. Baird raised their target price on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Finally, StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trimble has an average rating of “Moderate Buy” and a consensus price target of $66.67.

About Trimble

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.