Kentucky Retirement Systems Insurance Trust Fund Purchases New Stake in Trimble Inc. (NASDAQ:TRMB)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,081 shares of the scientific and technical instruments company’s stock, valued at approximately $465,000.

Several other large investors have also recently bought and sold shares of TRMB. Brighton Jones LLC purchased a new position in Trimble in the 4th quarter valued at approximately $211,000. Illinois Municipal Retirement Fund increased its position in shares of Trimble by 43.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 22,222 shares of the scientific and technical instruments company’s stock valued at $1,570,000 after buying an additional 6,699 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Trimble by 2.1% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 99,866 shares of the scientific and technical instruments company’s stock valued at $7,057,000 after buying an additional 2,100 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Trimble during the 4th quarter worth $4,938,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Trimble in the 4th quarter worth about $3,808,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

TRMB stock opened at $74.12 on Thursday. The firm has a market cap of $17.68 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.14 and a beta of 1.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The stock has a 50-day simple moving average of $68.47 and a 200-day simple moving average of $69.60.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director now directly owns 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of analyst reports. Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $88.43.

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.