Trimble Inc. $TRMB Stock Purchased by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab grew its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 33.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 670,817 shares of the scientific and technical instruments company’s stock after acquiring an additional 168,000 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in Trimble were worth $38,310,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TRMB. Assenagon Asset Management S.A. increased its holdings in shares of Trimble by 29.4% during the second quarter. Assenagon Asset Management S.A. now owns 347,691 shares of the scientific and technical instruments company’s stock worth $17,795,000 after buying an additional 79,069 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Trimble by 52.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 381,026 shares of the scientific and technical instruments company’s stock valued at $21,760,000 after acquiring an additional 131,528 shares during the last quarter. State Street Corp boosted its holdings in shares of Trimble by 7.9% during the 2nd quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company’s stock valued at $595,976,000 after acquiring an additional 849,549 shares in the last quarter. Norris Perne & French LLP MI boosted its holdings in shares of Trimble by 221.3% during the 3rd quarter. Norris Perne & French LLP MI now owns 354,634 shares of the scientific and technical instruments company’s stock valued at $20,253,000 after acquiring an additional 244,273 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Trimble by 85.0% during the 2nd quarter. Tidal Investments LLC now owns 64,567 shares of the scientific and technical instruments company’s stock worth $3,305,000 after acquiring an additional 29,657 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Trading Down 0.3%

NASDAQ TRMB traded down $0.19 during mid-day trading on Friday, reaching $55.64. 2,085,228 shares of the stock were exchanged, compared to its average volume of 2,504,790. Trimble Inc. has a one year low of $47.92 and a one year high of $84.42. The stock has a 50 day simple moving average of $59.24 and a 200-day simple moving average of $60.11. The stock has a market cap of $12.75 billion, a P/E ratio of -79.48, a P/E/G ratio of 1.79 and a beta of 1.32. 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 issued its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The business had revenue of $966.80 million during the quarter, compared to the consensus estimate of $966.41 million. Trimble had a positive return on equity of 12.73% and a negative net margin of 4.08%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. On average, analysts anticipate that Trimble Inc. will post 3.12 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays dropped their target price on Trimble from $80.00 to $78.00 and set an “overweight” rating for the company in a research report on Monday, November 9th. Wells Fargo & Company reduced their price target on Trimble from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. JPMorgan Chase & Co. lowered their price objective on Trimble from $75.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $87.00 target price on shares of Trimble in a research report on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.22.

Insider Buying and Selling at Trimble

In other news, Director Kaigham Gabriel sold 2,476 shares of the stock in a transaction dated Thursday, October 29th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.59% of the company’s stock.

About Trimble

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.