Cornerstone Capital Inc. Sells 6,655 Shares of Trimble Inc. (NASDAQ:TRMB)

Cornerstone Capital Inc. cut its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,974 shares of the scientific and technical instruments company’s stock after selling 6,655 shares during the period. Trimble accounts for approximately 1.6% of Cornerstone Capital Inc.’s portfolio, making the stock its 28th largest holding. Cornerstone Capital Inc. owned approximately 0.11% of Trimble worth $14,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Morgan Stanley grew its holdings in shares of Trimble by 10.0% during the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock worth $412,285,000 after purchasing an additional 694,842 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Trimble by 13.1% during the fourth 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 purchasing an additional 603,020 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Trimble by 2,399.7% during the third quarter. Wellington Management Group LLP now owns 425,330 shares of the scientific and technical instruments company’s stock worth $22,908,000 after purchasing an additional 408,315 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Trimble by 5.7% during the third quarter. Invesco Ltd. now owns 3,515,579 shares of the scientific and technical instruments company’s stock worth $189,349,000 after purchasing an additional 189,902 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Trimble by 43.6% during the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after purchasing an additional 176,139 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Trimble news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Peter Large sold 1,447 shares of the stock in a transaction on 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 approximately $485,802. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Trimble Price Performance

Shares of Trimble 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 P/E/G ratio of 2.70 and a beta of 1.50. The business has a 50 day moving average of $61.72 and a 200 day moving average of $53.51. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55.

Trimble (NASDAQ:TRMB) last announced its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company 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 firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, equities research analysts forecast that Trimble Inc. will post 2.23 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.