Capital International Investors Sells 120,344 Shares of Trimble Inc. (NASDAQ:TRMB)

Capital International Investors lowered its stake in Trimble Inc. (NASDAQ:TRMB) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,723,984 shares of the scientific and technical instruments company’s stock after selling 120,344 shares during the quarter. Capital International Investors owned about 5.21% of Trimble worth $818,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Frazier Financial Advisors LLC bought a new position in shares of Trimble during the fourth quarter worth about $26,000. Tobam acquired a new stake in shares of Trimble in the first quarter valued at approximately $35,000. Principal Securities Inc. bought a new stake in shares of Trimble in the fourth quarter worth $52,000. Sound Income Strategies LLC boosted its holdings in Trimble by 171.9% during the first quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in Trimble in the fourth quarter valued at $67,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Monday, May 6th. Raymond James reaffirmed an “outperform” rating and set a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $73.00 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 given a buy rating to the company. Based on data from MarketBeat, Trimble has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Performance

Shares of TRMB stock traded up $0.66 during trading on Friday, reaching $55.36. 1,258,026 shares of the company’s stock were exchanged, compared to its average volume of 1,355,204. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The firm’s fifty day moving average price is $56.00 and its 200-day moving average price is $57.43. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $13.52 billion, a PE ratio of 57.67, a PEG ratio of 2.53 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $921.15 million. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.21 EPS for the current year.

About Trimble

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.