Trimble Inc. (NASDAQ:TRMB) Stake Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in Trimble Inc. (NASDAQ:TRMB) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 18,403 shares of the scientific and technical instruments company’s stock after selling 489 shares during the period. Kentucky Retirement Systems’ holdings in Trimble were worth $1,029,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Fulton Bank N.A. increased its stake in Trimble by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after purchasing an additional 199 shares in the last quarter. Czech National Bank increased its stake in Trimble by 0.5% in the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock worth $2,817,000 after purchasing an additional 201 shares in the last quarter. SVB Wealth LLC increased its stake in Trimble by 4.8% in the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after purchasing an additional 204 shares in the last quarter. Caprock Group LLC increased its stake in Trimble by 1.9% in the 1st quarter. Caprock Group LLC now owns 12,584 shares of the scientific and technical instruments company’s stock worth $810,000 after purchasing an additional 233 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Trimble by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 1,858 shares of the scientific and technical instruments company’s stock worth $120,000 after acquiring an additional 291 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TRMB shares. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. raised their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Stock Down 2.7 %

Shares of Trimble stock opened at $58.57 on Friday. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 61.01, a P/E/G ratio of 2.63 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The stock has a 50-day simple moving average of $55.34 and a 200-day simple moving average of $57.44.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same period in the previous year, the company earned $0.51 EPS. The firm’s revenue was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Trimble Inc. will post 2.22 earnings per share for the current fiscal year.

Trimble Company 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.