Daiwa Securities Group Inc. Decreases Stock Position in Trimble Inc. (NASDAQ:TRMB)

Daiwa Securities Group Inc. lessened its position in Trimble Inc. (NASDAQ:TRMB) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,547 shares of the scientific and technical instruments company’s stock after selling 25,306 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Trimble were worth $10,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its holdings in Trimble by 86,928.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,426,266 shares of the scientific and technical instruments company’s stock valued at $223,792,000 after purchasing an additional 4,421,180 shares during the period. Morgan Stanley lifted its holdings in Trimble by 283.9% during the 4th quarter. Morgan Stanley now owns 5,530,548 shares of the scientific and technical instruments company’s stock worth $279,625,000 after buying an additional 4,089,901 shares during the last quarter. Norges Bank purchased a new stake in Trimble during the 4th quarter worth about $162,931,000. Price T Rowe Associates Inc. MD lifted its holdings in Trimble by 131.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,550,902 shares of the scientific and technical instruments company’s stock worth $290,979,000 after buying an additional 3,155,709 shares during the last quarter. Finally, Amundi lifted its holdings in Trimble by 113.5% during the 4th quarter. Amundi now owns 2,946,710 shares of the scientific and technical instruments company’s stock worth $153,048,000 after buying an additional 1,566,650 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares in the company, valued at approximately $11,771,371.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the sale, the chief executive officer now directly owns 187,055 shares in the company, valued at approximately $11,771,371.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,381 shares of company stock worth $928,002. Company insiders own 0.61% of the company’s stock.

Trimble Stock Performance

Shares of TRMB stock opened at $58.46 on Thursday. The stock has a market capitalization of $14.36 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 2.64 and a beta of 1.50. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The stock’s 50-day moving average price is $61.33 and its 200 day moving average price is $53.16. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last released its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The company had revenue of $932.40 million for the quarter, compared to analysts’ expectations of $908.43 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday. Robert W. Baird lifted their target price on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. lifted their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Oppenheimer lifted their target price on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.83.

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.