Sumitomo Mitsui Trust Group Inc. Decreases Stock Holdings in Trimble Inc. $TRMB

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Trimble Inc. (NASDAQ:TRMB) by 4.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,455,001 shares of the scientific and technical instruments company’s stock after selling 161,415 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Trimble were worth $282,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TRMB. Peapack Gladstone Financial Corp grew its stake in shares of Trimble by 2.6% in the second quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock worth $381,000 after purchasing an additional 125 shares during the last quarter. MAI Capital Management lifted its holdings in Trimble by 4.7% in the 2nd quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after buying an additional 126 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Trimble by 18.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock worth $69,000 after buying an additional 141 shares during the period. Balboa Wealth Partners grew its position in shares of Trimble by 4.7% in the 2nd quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock worth $243,000 after buying an additional 144 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Trimble by 11.7% during the second quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 159 shares during the period. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of research analyst reports. Zacks Research lowered Trimble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Berenberg Bank set a $95.00 price objective on shares of Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. KeyCorp upgraded shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target on the stock in a research report on Monday, December 15th. Finally, Wells Fargo & Company initiated coverage on shares of Trimble in a report on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price objective for the company. One investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.78.

Insider Buying and Selling

In other news, Director Kaigham Gabriel sold 1,718 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total transaction of $139,158.00. Following the completion of the transaction, the director directly owned 15,170 shares in the company, valued at $1,228,770. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Phillip Sawarynski sold 2,250 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total transaction of $181,012.50. Following the completion of the transaction, the chief financial officer owned 25,684 shares in the company, valued at approximately $2,066,277.80. The trade was a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,584 shares of company stock valued at $1,577,351. Insiders own 0.54% of the company’s stock.

Trimble Trading Up 0.2%

NASDAQ:TRMB opened at $80.80 on Tuesday. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company’s 50-day simple moving average is $79.91 and its 200 day simple moving average is $80.50. The firm has a market capitalization of $19.22 billion, a P/E ratio of 55.34, a PEG ratio of 2.81 and a beta of 1.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The firm had revenue of $856.50 million during the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. As a group, analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble declared that its Board of Directors has authorized a share repurchase program 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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.