Kentucky Retirement Systems Insurance Trust Fund Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Trimble Inc. (NASDAQ:TRMB) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,210 shares of the scientific and technical instruments company’s stock after selling 653 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Trimble were worth $528,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Trimble by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after acquiring an additional 273,863 shares in the last quarter. Generation Investment Management LLP raised its position in shares of Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after acquiring an additional 5,796,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after acquiring an additional 126,472 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Trimble by 3.9% in the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after acquiring an additional 188,790 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Trimble by 5.2% in the 4th quarter. FIL Ltd now owns 3,588,699 shares of the scientific and technical instruments company’s stock worth $190,919,000 after acquiring an additional 178,375 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Performance

Shares of TRMB stock traded up $0.66 during mid-day trading on Friday, reaching $55.36. The stock had a trading volume of 1,258,068 shares, compared to its average volume of 952,288. The business’s fifty day moving average is $56.00 and its 200-day moving average is $57.52. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 57.67, a PEG ratio of 2.51 and a beta of 1.50. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $953.30 million for the quarter, compared to analyst estimates of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. On average, research analysts forecast that Trimble Inc. will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

TRMB has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Monday, May 6th. JPMorgan Chase & Co. upped their target price on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, May 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $65.00 target price on shares of Trimble in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.67.

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.