333,216 Trimble Inc. $TRMB Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in Trimble Inc. (NASDAQ:TRMB) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,281,666 shares of the scientific and technical instruments company’s stock after selling 333,216 shares during the period. King Luther Capital Management Corp owned approximately 1.41% of Trimble worth $187,416,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new position in Trimble in the 3rd quarter worth about $28,000. Frazier Financial Advisors LLC purchased a new stake in Trimble during the 2nd quarter valued at about $25,000. Vega Investment Solutions bought a new stake in Trimble during the 2nd quarter valued at about $29,000. Heritage Family Offices LLP bought a new stake in Trimble during the 3rd quarter valued at about $36,000. Finally, SBI Securities Co. Ltd. increased its stake in Trimble by 32.4% during 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 purchasing an additional 199 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $56.48 on Thursday. Trimble Inc. has a fifty-two week low of $47.92 and a fifty-two week high of $84.42. The business has a 50-day simple moving average of $59.39 and a two-hundred day simple moving average of $60.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.93. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of -80.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.32.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. Trimble had a negative net margin of 4.08% and a positive return on equity of 12.73%. The business had revenue of $966.80 million for the quarter, compared to analysts’ expectations of $966.41 million. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect that Trimble Inc. will post 3.10 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kaigham Gabriel sold 2,476 shares of the stock in a transaction that occurred on 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 in the company, valued at $971,750. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TRMB has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on shares of Trimble from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. Sanford C. Bernstein reduced their price target 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 restated an “overweight” rating and issued a $87.00 price objective on shares of Trimble in a report on Thursday, August 13th. Raymond James Financial cut Trimble from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Loop Capital initiated coverage on Trimble in a research report on Monday, October 26th. They issued a “buy” rating and a $76.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.22.

Trimble Company 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.