Trimble Inc. (NASDAQ:TRMB) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its holdings in Trimble Inc. (NASDAQ:TRMB) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,683,866 shares of the scientific and technical instruments company’s stock after selling 233,415 shares during the period. Primecap Management Co. CA owned 1.92% of Trimble worth $261,922,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Trimble by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after acquiring an additional 361,421 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Trimble in the 2nd quarter valued at about $52,000. Wilkins Investment Counsel Inc. grew its holdings in shares of Trimble by 1.5% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 97,450 shares of the scientific and technical instruments company’s stock worth $5,449,000 after purchasing an additional 1,400 shares during the period. Envestnet Asset Management Inc. increased its position in Trimble by 6.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 228,235 shares of the scientific and technical instruments company’s stock worth $12,763,000 after purchasing an additional 13,845 shares in the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in Trimble in the second quarter valued at approximately $205,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TRMB shares. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. Robert W. Baird increased their price target on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. reduced their price target on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.33.

Trimble Trading Up 3.4 %

NASDAQ:TRMB opened at $58.41 on Tuesday. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 60.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.48. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The business’s 50-day simple moving average is $55.13 and its 200 day simple moving average is $57.50.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same period in the prior year, the company posted $0.51 EPS. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts predict that Trimble Inc. will post 2.22 earnings per share for the current fiscal year.

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.