Trimble Inc. $TRMB Stock Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of Trimble Inc. (NASDAQ:TRMB) by 40.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,001 shares of the scientific and technical instruments company’s stock after purchasing an additional 32,902 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Trimble were worth $6,568,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TRMB. Root Financial Partners LLC purchased a new position in shares of Trimble in the third quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Trimble during the 2nd quarter worth $25,000. Vega Investment Solutions purchased a new stake in shares of Trimble in the 2nd quarter worth about $29,000. Heritage Family Offices LLP purchased a new stake in shares of Trimble in the 3rd quarter worth about $36,000. Finally, SBI Securities Co. Ltd. grew its stake in Trimble by 32.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 814 shares of the scientific and technical instruments company’s stock valued at $46,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRMB. Oppenheimer dropped their target price on shares of Trimble from $80.00 to $73.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Sanford C. Bernstein cut their target price on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target on shares of Trimble in a report on Thursday, August 13th. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Trimble from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average target price of $78.22.

Trimble Price Performance

Trimble stock opened at $55.83 on Friday. Trimble Inc. has a 12-month low of $47.92 and a 12-month high of $84.42. The stock has a market capitalization of $12.80 billion, a P/E ratio of -79.76, a P/E/G ratio of 1.82 and a beta of 1.32. The firm’s 50-day moving average is $59.32 and its two-hundred day moving average is $60.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.80.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. The business had revenue of $966.80 million during the quarter, compared to analyst estimates of $966.41 million. Trimble had a negative net margin of 4.08% and a positive return on equity of 12.73%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 earnings per share. Equities analysts predict that Trimble Inc. will post 3.11 earnings per share for the current year.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 2,476 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $65.00, for a total transaction of $160,940.00. Following the transaction, the director owned 14,950 shares of the company’s stock, valued at $971,750. This represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.59% of the company’s stock.

Trimble Profile

Trimble Inc. develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture. Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.