Norris Perne & French LLP MI Sells 7,710 Shares of Trimble Inc. $TRMB

Norris Perne & French LLP MI reduced its position in Trimble Inc. (NASDAQ:TRMB) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 332,362 shares of the scientific and technical instruments company’s stock after selling 7,710 shares during the period. Trimble accounts for approximately 1.9% of Norris Perne & French LLP MI’s portfolio, making the stock its 17th largest holding. Norris Perne & French LLP MI’s holdings in Trimble were worth $27,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Trimble in the second quarter worth about $198,583,000. Generation Investment Management LLP boosted its holdings in Trimble by 19.1% in the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock worth $685,314,000 after buying an additional 1,449,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Trimble by 26.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock valued at $458,113,000 after buying an additional 1,445,851 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Trimble by 73.1% during the second quarter. Raymond James Financial Inc. now owns 1,283,759 shares of the scientific and technical instruments company’s stock worth $97,540,000 after acquiring an additional 542,245 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Trimble by 14.4% during the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock worth $318,285,000 after acquiring an additional 525,214 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

NASDAQ:TRMB opened at $80.20 on Monday. The business’s 50-day moving average price is $79.95 and its two-hundred day moving average price is $79.96. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The stock has a market cap of $19.08 billion, a P/E ratio of 54.93, a PEG ratio of 3.13 and a beta of 1.60. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The company had revenue of $856.50 million during the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%. As a group, equities analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble declared that its Board of Directors has approved a stock repurchase plan on Friday, December 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TRMB shares. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. KeyCorp upgraded Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research note on Monday, December 15th. Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a report on Friday, October 3rd. Barclays assumed coverage on shares of Trimble in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price objective on shares of Trimble in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $96.67.

Insider Activity at Trimble

In other news, CFO Phillip Sawarynski sold 2,250 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total value of $181,012.50. Following the transaction, the chief financial officer owned 25,684 shares of the company’s stock, valued at $2,066,277.80. This represents a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $81.39, for a total transaction of $610,425.00. Following the sale, the chief executive officer owned 41,897 shares in the company, valued at approximately $3,409,996.83. This trade represents a 15.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,084 shares of company stock worth $2,144,726 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

About Trimble

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.