Sumitomo Mitsui Trust Holdings Inc. Grows Position in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,315,941 shares of the scientific and technical instruments company’s stock after buying an additional 126,472 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 2.18% of Trimble worth $342,134,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norris Perne & French LLP MI grew its stake in Trimble by 1.7% during the first quarter. Norris Perne & French LLP MI now owns 250,468 shares of the scientific and technical instruments company’s stock worth $16,120,000 after buying an additional 4,205 shares during the period. Capital Insight Partners LLC grew its stake in Trimble by 42.2% during the first quarter. Capital Insight Partners LLC now owns 6,840 shares of the scientific and technical instruments company’s stock worth $440,000 after buying an additional 2,030 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Trimble by 18.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,942 shares of the scientific and technical instruments company’s stock worth $511,000 after buying an additional 1,251 shares during the period. Brookstone Capital Management purchased a new position in shares of Trimble in the first quarter valued at $334,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Trimble by 171.9% in the first quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 631 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped 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. Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, May 6th. Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James restated an “outperform” rating and issued a $65.00 target price on shares of Trimble in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Insider Transactions at Trimble

In other news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the transaction, the senior vice president now directly owns 8,220 shares in the company, valued at approximately $485,802. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the transaction, the senior vice president now directly owns 8,220 shares in the company, valued at approximately $485,802. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares in the company, valued at $11,472,187.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,182 shares of company stock worth $318,636. 0.47% of the stock is currently owned by insiders.

Trimble Stock Down 0.2 %

NASDAQ TRMB traded down $0.10 during trading hours on Wednesday, reaching $56.12. 107,371 shares of the company traded hands, compared to its average volume of 1,396,189. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $13.71 billion, a PE ratio of 58.56, a PEG ratio of 2.54 and a beta of 1.50. The company has a 50 day moving average of $56.57 and a two-hundred day moving average of $56.98.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The firm had revenue of $953.30 million for the quarter, compared to the consensus estimate of $921.15 million. As a group, equities analysts expect that Trimble Inc. will post 2.21 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.