ProVise Management Group LLC Cuts Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

ProVise Management Group LLC lowered its stake in Trimble Inc. (NASDAQ:TRMB) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,438 shares of the scientific and technical instruments company’s stock after selling 230 shares during the quarter. ProVise Management Group LLC’s holdings in Trimble were worth $343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRMB. Vanguard Group Inc. increased its position in Trimble by 0.3% in the third quarter. Vanguard Group Inc. now owns 28,939,750 shares of the scientific and technical instruments company’s stock worth $1,558,695,000 after purchasing an additional 86,414 shares during the last quarter. Morgan Stanley raised its position in shares of Trimble by 10.0% during the 3rd quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock valued at $412,285,000 after buying an additional 694,842 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Trimble by 13.1% in 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 acquiring an additional 603,020 shares during the last quarter. Invesco Ltd. grew its position in Trimble by 5.7% in 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 acquiring an additional 189,902 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Trimble by 3.0% during the third quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company’s stock worth $178,887,000 after acquiring an additional 95,588 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, May 6th. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Robert W. Baird upped their price target on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Insider Transactions at Trimble

In related news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction dated 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 sale, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the transaction, the chief executive officer now directly owns 183,555 shares in the company, valued at approximately $11,472,187.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter Large sold 1,447 shares of the company’s 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 sale, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,093 shares of company stock valued at $564,872. 0.47% of the stock is currently owned by corporate insiders.

Trimble Trading Down 0.1 %

TRMB stock traded down $0.07 during trading on Friday, hitting $56.80. The company had a trading volume of 671,234 shares, compared to its average volume of 1,481,006. The firm has a market capitalization of $13.87 billion, a P/E ratio of 59.17, a PEG ratio of 2.58 and a beta of 1.51. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $54.96.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $921.15 million. As a group, research analysts forecast that Trimble Inc. will post 2.21 earnings per share 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.