Man Group plc Trims Stock Position in Trimble Inc. (NASDAQ:TRMB)

Man Group plc decreased its holdings in Trimble Inc. (NASDAQ:TRMB) by 58.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 515,128 shares of the scientific and technical instruments company’s stock after selling 737,687 shares during the quarter. Man Group plc owned 0.21% of Trimble worth $36,399,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Barclays PLC increased its stake in Trimble by 4.3% during the 3rd quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company’s stock worth $46,151,000 after buying an additional 30,457 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after purchasing an additional 60,752 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Trimble by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,038 shares of the scientific and technical instruments company’s stock worth $2,193,000 after purchasing an additional 486 shares in the last quarter. Czech National Bank lifted its stake in Trimble by 6.4% during the fourth quarter. Czech National Bank now owns 52,950 shares of the scientific and technical instruments company’s stock worth $3,741,000 after purchasing an additional 3,203 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Trimble during the fourth quarter worth $406,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $71.27 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.00 billion, a P/E ratio of 11.70, a PEG ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a 50-day moving average price of $64.00 and a 200 day moving average price of $69.19.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $810.45 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TRMB. JPMorgan Chase & Co. increased their target price on Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer upped their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Finally, StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $85.50.

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.