Simmons Bank Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

Simmons Bank cut its position in shares of Trimble Inc. (NASDAQ:TRMB) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,533 shares of the scientific and technical instruments company’s stock after selling 1,152 shares during the period. Simmons Bank’s holdings in Trimble were worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC lifted its holdings in Trimble by 383.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock worth $11,881,000 after buying an additional 174,917 shares during the period. Barclays PLC grew its stake in Trimble by 43.6% in the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock valued at $31,254,000 after purchasing an additional 176,139 shares during the last quarter. Hunter Associates Investment Management LLC raised its holdings in Trimble by 51.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock worth $2,185,000 after purchasing an additional 13,899 shares in the last quarter. Mission Wealth Management LP grew its position in shares of Trimble by 6.0% in the 4th quarter. Mission Wealth Management LP now owns 20,277 shares of the scientific and technical instruments company’s stock worth $1,079,000 after buying an additional 1,145 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in Trimble by 126.1% in the fourth quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock valued at $7,121,000 after acquiring an additional 74,667 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Trimble Price Performance

Shares of TRMB stock traded down $0.52 during trading hours on Wednesday, hitting $56.48. 757,868 shares of the company’s stock were exchanged, compared to its average volume of 1,417,063. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The firm has a market cap of $13.79 billion, a P/E ratio of 59.38, a P/E/G ratio of 2.51 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. The firm has a 50 day moving average of $61.34 and a two-hundred day moving average of $53.92.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data 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. The business had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. Sell-side analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

Insiders Place Their Bets

In other news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the sale, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The disclosure for this sale can be found here. In the last three months, insiders sold 16,828 shares of company stock worth $1,013,519. Corporate insiders own 0.47% of the company’s stock.

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.