Truist Financial Corp Raises Stock Position in Trimble Inc. $TRMB

Truist Financial Corp boosted its position in shares of Trimble Inc. (NASDAQ:TRMB) by 171.5% in the third quarter, HoldingsChannel reports. The fund owned 70,332 shares of the scientific and technical instruments company’s stock after purchasing an additional 44,427 shares during the quarter. Truist Financial Corp’s holdings in Trimble were worth $5,743,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TRMB. Salomon & Ludwin LLC acquired a new position in shares of Trimble during the third quarter worth $25,000. Root Financial Partners LLC acquired a new stake in shares of Trimble in the 3rd quarter worth $30,000. Global Retirement Partners LLC grew its stake in Trimble by 78.7% during the 3rd quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 181 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Trimble during the 2nd quarter valued at about $34,000. Finally, Geneos Wealth Management Inc. raised its stake in Trimble by 55.4% in the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 169 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRMB has been the subject of several recent analyst reports. KeyCorp raised Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a report on Monday, December 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $97.00 price objective on shares of Trimble in a research report on Friday, November 7th. Wells Fargo & Company initiated coverage on shares of Trimble in a research report on Thursday, November 13th. They set an “overweight” rating and a $94.00 target price on the stock. Barclays upped their price target on shares of Trimble from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Trimble has an average rating of “Moderate Buy” and a consensus price target of $96.78.

Insider Buying and Selling at Trimble

In other news, Director Kaigham Gabriel sold 1,718 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the transaction, the director owned 15,170 shares of the company’s stock, valued at $1,228,770. The trade was a 10.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Calvin Dalton sold 616 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $81.99, for a total value of $50,505.84. Following the completion of the sale, the director owned 13,193 shares in the company, valued at $1,081,694.07. The trade was a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,084 shares of company stock valued at $2,183,951. Company insiders own 0.54% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $64.62 on Wednesday. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. The firm has a market cap of $15.37 billion, a P/E ratio of 44.26, a P/E/G ratio of 2.37 and a beta of 1.59. The business’s 50 day moving average price is $77.86 and its 200 day moving average price is $79.68.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. The business had revenue of $901.20 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 EPS. On average, sell-side analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble announced that its board has approved a stock buyback program on Friday, December 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is 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.