New York State Common Retirement Fund Raises Stock Position in Trimble Inc. (NASDAQ:TRMB)

New York State Common Retirement Fund lifted its position in Trimble Inc. (NASDAQ:TRMB) by 22.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 951,967 shares of the scientific and technical instruments company’s stock after acquiring an additional 171,637 shares during the quarter. New York State Common Retirement Fund owned 0.38% of Trimble worth $50,645,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TRMB. Morgan Stanley lifted its holdings 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 worth $412,285,000 after acquiring an additional 694,842 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted 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 valued at $276,080,000 after buying an additional 603,020 shares in the last quarter. Wellington Management Group LLP lifted 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 valued at $22,908,000 after buying an additional 408,315 shares in the last quarter. Invesco Ltd. lifted its holdings in Trimble by 5.7% during the 3rd quarter. Invesco Ltd. now owns 3,515,579 shares of the scientific and technical instruments company’s stock valued at $189,349,000 after buying an additional 189,902 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Trimble by 43.6% during the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock valued at $31,254,000 after buying an additional 176,139 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the sale, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 16,828 shares of company stock worth $1,013,519 in the last 90 days. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Trimble Trading Up 1.3 %

NASDAQ TRMB opened at $59.69 on Wednesday. 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 firm has a market cap of $14.58 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 2.64 and a beta of 1.50. The company has a 50 day moving average price of $61.71 and a 200 day moving average price of $53.36. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data 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 analyst estimates of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. Trimble’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts forecast that Trimble Inc. will post 2.23 EPS for the current fiscal 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.