New York State Teachers Retirement System Reduces Position in Trimble Inc. $TRMB

New York State Teachers Retirement System lowered its position in shares of Trimble Inc. (NASDAQ:TRMB) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 193,935 shares of the scientific and technical instruments company’s stock after selling 27,894 shares during the quarter. New York State Teachers Retirement System’s holdings in Trimble were worth $15,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Trimble by 31.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 146,283 shares of the scientific and technical instruments company’s stock worth $11,944,000 after buying an additional 35,015 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Trimble by 31.7% during the third quarter. Oregon Public Employees Retirement Fund now owns 27,150 shares of the scientific and technical instruments company’s stock worth $2,217,000 after purchasing an additional 6,537 shares during the last quarter. Nestegg Advisors Inc. purchased a new position in Trimble in the third quarter valued at approximately $209,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Trimble during the third quarter worth approximately $39,000. Finally, Clear Harbor Asset Management LLC lifted its position in shares of Trimble by 1.4% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 247,691 shares of the scientific and technical instruments company’s stock worth $20,224,000 after buying an additional 3,400 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $80.24 on Wednesday. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 54.96, a PEG ratio of 2.82 and a beta of 1.59. The company has a 50-day simple moving average of $79.94 and a 200-day simple moving average of $80.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 1.00.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. The firm had revenue of $901.20 million for the quarter, compared to analysts’ expectations of $870.30 million. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. On average, analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

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

Analysts Set New Price Targets

A number of research firms recently commented on TRMB. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the company a “buy” rating in a research report on Friday, October 3rd. KeyCorp raised Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price objective on the stock in a report on Monday, December 15th. Piper Sandler reiterated an “overweight” rating and set a $97.00 target price on shares of Trimble in a research report on Friday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $102.00 target price on shares of Trimble in a research report on Thursday, November 6th. Finally, Wells Fargo & Company started coverage on Trimble in a research note on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.78.

Insider Activity at Trimble

In other news, Director James Calvin Dalton sold 616 shares of Trimble stock in a transaction that occurred 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 completion of the sale, the director directly owned 13,193 shares in the company, valued at approximately $1,081,694.07. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Phillip Sawarynski sold 2,250 shares of Trimble stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total value 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. This represents a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,584 shares of company stock valued at $1,577,351. Company insiders own 0.54% of the company’s stock.

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.