Sawgrass Asset Management LLC Cuts Stake in Trimble Inc. (NASDAQ:TRMB)

Sawgrass Asset Management LLC reduced its stake in Trimble Inc. (NASDAQ:TRMB) by 20.5% during the fourth quarter, HoldingsChannel reports. The fund owned 6,417 shares of the scientific and technical instruments company’s stock after selling 1,659 shares during the period. Sawgrass Asset Management LLC’s holdings in Trimble were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TRMB. Operose Advisors LLC purchased a new stake in shares of Trimble during the third quarter valued at $43,000. Criterion Capital Advisors LLC purchased a new stake in shares of Trimble during the fourth quarter valued at $67,000. First Horizon Advisors Inc. boosted its position in shares of Trimble by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after buying an additional 196 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Trimble during the fourth quarter valued at $80,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Trimble during the third quarter valued at $86,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the sale, the senior vice president now owns 8,220 shares in the company, valued at $485,802. The disclosure for this sale can be found here. Insiders have sold a total of 16,828 shares of company stock worth $1,013,519 over the last quarter. Insiders own 0.47% of the company’s stock.

Trimble Stock Performance

NASDAQ TRMB traded up $0.80 on Tuesday, reaching $57.00. 2,326,133 shares of the stock were exchanged, compared to its average volume of 1,425,062. The firm has a market capitalization of $13.92 billion, a PE ratio of 59.38, a PEG ratio of 2.51 and a beta of 1.51. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The company’s 50-day simple moving average is $61.44 and its two-hundred day simple moving average is $53.86. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last released its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $932.40 million for the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. Trimble’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. Analysts expect that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRMB. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday. Robert W. Baird increased their target price on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.