Bank of New York Mellon Corp Trims Stock Position in Trimble Inc. $TRMB

Bank of New York Mellon Corp trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,518,034 shares of the scientific and technical instruments company’s stock after selling 191,324 shares during the period. Bank of New York Mellon Corp’s holdings in Trimble were worth $123,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Peapack Gladstone Financial Corp raised its holdings 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 acquiring an additional 125 shares during the last quarter. MAI Capital Management raised its stake 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 valued at $213,000 after purchasing an additional 126 shares during the last quarter. 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 valued at $69,000 after purchasing an additional 141 shares in the last quarter. Balboa Wealth Partners boosted its stake in shares of Trimble by 4.7% during the 2nd quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock worth $243,000 after purchasing an additional 144 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Trimble by 2.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,350 shares of the scientific and technical instruments company’s stock worth $518,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Trimble in a research note on Thursday, November 13th. They set an “overweight” rating and a $94.00 price objective on the stock. Barclays raised their price objective on Trimble from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Piper Sandler reiterated an “overweight” rating and issued a $97.00 target price on shares of Trimble in a research note on Friday, November 7th. KeyCorp upgraded Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Wednesday, January 21st. One research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.78.

Insider Buying and Selling at Trimble

In related news, Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the sale, the director directly owned 15,170 shares in the company, valued at approximately $1,228,770. This represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Calvin Dalton sold 616 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $81.99, for a total value of $50,505.84. Following the transaction, the director owned 13,193 shares in the company, valued at approximately $1,081,694.07. This represents a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,084 shares of company stock valued at $2,183,951 in the last quarter. Company insiders own 0.54% of the company’s stock.

Trimble Stock Performance

Trimble stock opened at $67.60 on Friday. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86. The stock’s 50-day moving average is $78.41 and its 200-day moving average is $79.90.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. The firm had revenue of $901.20 million for the quarter, compared to analyst estimates of $870.30 million. Trimble had a net margin of 9.93% and a return on equity of 10.73%. Trimble’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. Equities analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble announced that its board has authorized a share buyback plan on Friday, December 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About Trimble

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.