State of New Jersey Common Pension Fund D Has $7.28 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

State of New Jersey Common Pension Fund D raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 136,747 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,799 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Trimble were worth $7,275,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Caprock Group LLC increased its stake in shares of Trimble by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,305 shares of the scientific and technical instruments company’s stock valued at $663,000 after acquiring an additional 303 shares during the last quarter. Czech National Bank increased its stake in shares of Trimble by 48.0% in the 3rd quarter. Czech National Bank now owns 43,401 shares of the scientific and technical instruments company’s stock valued at $2,338,000 after acquiring an additional 14,073 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Trimble by 2.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 232,460 shares of the scientific and technical instruments company’s stock worth $12,520,000 after purchasing an additional 5,884 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in Trimble by 46.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 26,134 shares of the scientific and technical instruments company’s stock worth $1,408,000 after purchasing an additional 8,271 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its stake in Trimble by 51.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 45,906 shares of the scientific and technical instruments company’s stock worth $2,472,000 after purchasing an additional 15,556 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Performance

Trimble stock traded up $0.94 during mid-day trading on Friday, hitting $60.15. 790,684 shares of the company’s stock traded hands, compared to its average volume of 1,381,476. The firm has a 50 day simple moving average of $61.72 and a two-hundred day simple moving average of $53.44. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 48.12, a P/E/G ratio of 2.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts expect that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Oppenheimer upped their price target on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Robert W. Baird upped their price target on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.83.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Trimble news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock valued at $1,013,519 in the last quarter. 0.47% of the stock is currently owned by insiders.

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.