Trimble Inc. $TRMB Shares Purchased by SouthState Bank Corp

SouthState Bank Corp raised its stake in Trimble Inc. (NASDAQ:TRMB) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,326 shares of the scientific and technical instruments company’s stock after acquiring an additional 17,218 shares during the quarter. SouthState Bank Corp’s holdings in Trimble were worth $9,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Trimble during the 4th quarter worth about $211,000. Empowered Funds LLC boosted its stake in shares of Trimble by 9.5% during the 1st quarter. Empowered Funds LLC now owns 7,023 shares of the scientific and technical instruments company’s stock worth $461,000 after purchasing an additional 607 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Trimble by 41.6% during the first quarter. Woodline Partners LP now owns 20,766 shares of the scientific and technical instruments company’s stock worth $1,363,000 after buying an additional 6,100 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Trimble in the second quarter valued at approximately $208,000. Finally, HB Wealth Management LLC purchased a new position in shares of Trimble during the second quarter valued at approximately $241,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Phillip Sawarynski sold 2,250 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total transaction of $181,012.50. Following the transaction, the chief financial officer directly owned 25,684 shares of the company’s stock, valued at approximately $2,066,277.80. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Calvin Dalton sold 616 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $81.99, for a total transaction of $50,505.84. Following the sale, the director directly owned 13,193 shares of the company’s stock, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 25,366 shares of company stock valued at $2,044,793. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $97.00 price target on shares of Trimble in a report on Friday, November 7th. Barclays upped their target price on Trimble from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. Oppenheimer reissued an “outperform” rating and issued a $102.00 price target on shares of Trimble in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Wednesday, January 21st. Finally, Wells Fargo & Company initiated coverage on shares of Trimble in a report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Trimble presently has a consensus rating of “Moderate Buy” and an average target price of $96.78.

Trimble Stock Performance

NASDAQ TRMB opened at $65.04 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The firm has a market capitalization of $15.47 billion, a P/E ratio of 44.55, a P/E/G ratio of 2.25 and a beta of 1.59. The business’s 50-day simple moving average is $77.53 and its 200-day simple moving average is $79.57.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The business had revenue of $901.20 million for the quarter, compared to analyst estimates of $870.30 million. Trimble had a net margin of 9.93% and a return on equity of 10.73%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 EPS. Equities analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Trimble announced that its Board of Directors has authorized a stock repurchase plan on Friday, December 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Trimble Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.