Wendell David Associates Inc. Sells 425 Shares of Trimble Inc. (NASDAQ:TRMB)

Wendell David Associates Inc. reduced its stake in Trimble Inc. (NASDAQ:TRMB) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,777 shares of the scientific and technical instruments company’s stock after selling 425 shares during the period. Wendell David Associates Inc.’s holdings in Trimble were worth $576,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in Trimble during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Trimble in the 4th quarter worth $36,000. Central Pacific Bank Trust Division grew its position in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 355 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 422 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TRMB. Wall Street Zen downgraded Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th. Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research report on Thursday, February 20th. Finally, Oppenheimer lifted their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $88.43.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the transaction, the director now owns 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Trimble Stock Performance

Shares of Trimble stock opened at $72.88 on Tuesday. The company has a market capitalization of $17.39 billion, a PE ratio of 11.97, a P/E/G ratio of 3.09 and a beta of 1.68. The company has a 50-day simple moving average of $66.65 and a two-hundred day simple moving average of $69.63. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The firm had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the previous year, the business posted $0.64 EPS. Trimble’s revenue was down 11.8% on a year-over-year basis. Research analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

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.