Trimble Inc. (NASDAQ:TRMB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of Trimble Inc. (NASDAQ:TRMB) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,572 shares of the scientific and technical instruments company’s stock after selling 2,995 shares during the period. State of Alaska Department of Revenue’s holdings in Trimble were worth $2,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TRMB. Farrow Financial Inc. raised its position in shares of Trimble by 0.5% during the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after buying an additional 192 shares during the period. SVB Wealth LLC raised its position in Trimble by 4.8% in the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after purchasing an additional 204 shares during the period. Profund Advisors LLC raised its position in Trimble by 4.6% in the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after purchasing an additional 219 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after purchasing an additional 219 shares during the last quarter. Finally, Capital Insight Partners LLC grew its holdings in shares of Trimble by 4.0% during the 3rd quarter. Capital Insight Partners LLC now owns 7,295 shares of the scientific and technical instruments company’s stock worth $453,000 after purchasing an additional 280 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Performance

NASDAQ:TRMB opened at $61.21 on Friday. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 52 week low of $40.72 and a 52 week high of $65.55. The company has a fifty day simple moving average of $59.30 and a two-hundred day simple moving average of $57.16.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The company 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%. Trimble’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, equities analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRMB shares. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird boosted their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Trimble currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Company 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.