D.B. Root & Company LLC Sells 1,589 Shares of Trimble Inc. (NASDAQ:TRMB)

D.B. Root & Company LLC trimmed its position in Trimble Inc. (NASDAQ:TRMB) by 10.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,457 shares of the scientific and technical instruments company’s stock after selling 1,589 shares during the quarter. D.B. Root & Company LLC’s holdings in Trimble were worth $836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Trimble by 25.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after purchasing an additional 60,409 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Trimble by 484.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after purchasing an additional 75,182 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Trimble by 11.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after purchasing an additional 24,938 shares in the last quarter. Trustmark National Bank Trust Department bought a new stake in Trimble during the 1st quarter worth approximately $579,000. Finally, Swedbank AB bought a new stake in Trimble during the 1st quarter worth approximately $17,937,000. 93.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Robert W. Baird boosted their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average target price of $68.40.

Trimble Trading Up 17.9 %

NASDAQ:TRMB opened at $72.64 on Thursday. The company has a market cap of $17.74 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.75 and a beta of 1.49. The stock’s fifty day moving average price is $59.82 and its two-hundred day moving average price is $57.29. Trimble Inc. has a 1 year low of $40.79 and a 1 year high of $73.17. 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 (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, analysts expect that Trimble Inc. will post 2.23 EPS 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.