Federated Hermes Inc. Decreases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Federated Hermes Inc. lessened its holdings in Trimble Inc. (NASDAQ:TRMB) by 16.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,307 shares of the scientific and technical instruments company’s stock after selling 5,708 shares during the quarter. Federated Hermes Inc.’s holdings in Trimble were worth $1,559,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. D.B. Root & Company LLC grew its holdings in shares of Trimble by 1.6% during the fourth quarter. D.B. Root & Company LLC now owns 15,500 shares of the scientific and technical instruments company’s stock worth $825,000 after purchasing an additional 244 shares during the last quarter. M&T Bank Corp grew its stake in Trimble by 2.1% during the 3rd quarter. M&T Bank Corp now owns 12,220 shares of the scientific and technical instruments company’s stock worth $659,000 after buying an additional 249 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC lifted its stake in Trimble by 7.0% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 4,092 shares of the scientific and technical instruments company’s stock valued at $220,000 after buying an additional 268 shares during the last quarter. Wahed Invest LLC boosted its holdings in shares of Trimble by 9.5% in the third quarter. Wahed Invest LLC now owns 3,884 shares of the scientific and technical instruments company’s stock valued at $209,000 after acquiring an additional 337 shares during the period. Finally, Inspire Advisors LLC grew its position in shares of Trimble by 6.4% during the third quarter. Inspire Advisors LLC now owns 6,023 shares of the scientific and technical instruments company’s stock worth $324,000 after acquiring an additional 360 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Performance

NASDAQ TRMB opened at $60.67 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $61.72 and its two-hundred day moving average is $53.59. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.70 and a beta of 1.50. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $932.40 million during the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. Trimble’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. Research analysts expect that Trimble Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRMB. Oppenheimer increased their price target on shares of Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their price objective on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, April 15th. Finally, Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.83.

Insider Buying and Selling at Trimble

In other news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Peter Large sold 1,447 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now directly owns 8,220 shares in the company, valued at approximately $485,802. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,828 shares of company stock valued at $1,013,519. Corporate insiders own 0.47% of the company’s stock.

Trimble Profile

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.