Trimble Inc. (NASDAQ:TRMB) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA lowered its stake in shares of Trimble Inc. (NASDAQ:TRMBGet Rating) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 3,970,266 shares of the scientific and technical instruments company’s stock after selling 82,663 shares during the period. Pictet Asset Management SA’s holdings in Trimble were worth $346,167,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of Trimble by 170.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,865,065 shares of the scientific and technical instruments company’s stock worth $153,402,000 after buying an additional 1,176,661 shares during the period. ARK Investment Management LLC raised its position in shares of Trimble by 8.1% in the 4th quarter. ARK Investment Management LLC now owns 4,791,901 shares of the scientific and technical instruments company’s stock worth $417,806,000 after acquiring an additional 358,662 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Trimble in the 4th quarter worth about $24,330,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Trimble by 21.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,549,590 shares of the scientific and technical instruments company’s stock worth $135,108,000 after purchasing an additional 275,521 shares in the last quarter. Finally, FIL Ltd boosted its stake in shares of Trimble by 12.1% in the 3rd quarter. FIL Ltd now owns 2,094,937 shares of the scientific and technical instruments company’s stock worth $172,309,000 after buying an additional 226,796 shares during the last quarter. 91.47% of the stock is owned by hedge funds and other institutional investors.

NASDAQ TRMB traded up $1.15 during trading hours on Thursday, hitting $62.68. 1,878,340 shares of the company’s stock traded hands, compared to its average volume of 1,417,073. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. Trimble Inc. has a 52 week low of $59.89 and a 52 week high of $96.49. The firm has a market capitalization of $15.68 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.08 and a beta of 1.53. The business’s fifty day moving average price is $68.53 and its two-hundred day moving average price is $75.95.

Trimble (NASDAQ:TRMBGet Rating) last released its quarterly earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.16. The firm had revenue of $993.70 million for the quarter, compared to analysts’ expectations of $967.25 million. Trimble had a net margin of 12.97% and a return on equity of 15.20%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. On average, sell-side analysts expect that Trimble Inc. will post 2.43 EPS for the current fiscal year.

TRMB has been the topic of several research reports. Robert W. Baird dropped their target price on shares of Trimble from $90.00 to $80.00 in a report on Friday, May 6th. JPMorgan Chase & Co. dropped their price target on shares of Trimble from $79.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday, March 28th. William Blair reaffirmed an “outperform” rating on shares of Trimble in a report on Thursday, May 5th. Morgan Stanley decreased their price target on shares of Trimble from $76.00 to $70.00 and set an “underweight” rating for the company in a report on Tuesday, January 25th. Finally, Piper Sandler boosted their target price on shares of Trimble from $101.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $85.00.

In other news, VP Ronald Bisio sold 2,660 shares of Trimble stock in a transaction on Friday, March 11th. The shares were sold at an average price of $65.98, for a total transaction of $175,506.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sandra Macquillan sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $66.44, for a total transaction of $697,620.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.

Trimble Company Profile (Get Rating)

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 route selection and design; 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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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