Thrivent Financial for Lutherans Sells 489,415 Shares of Trimble Inc. $TRMB

Thrivent Financial for Lutherans trimmed its position in Trimble Inc. (NASDAQ:TRMB) by 17.8% in the third quarter, HoldingsChannel reports. The firm owned 2,263,736 shares of the scientific and technical instruments company’s stock after selling 489,415 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trimble were worth $184,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp boosted its stake in shares of Trimble by 2.6% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock worth $381,000 after buying an additional 125 shares during the last quarter. MAI Capital Management lifted its holdings in Trimble by 4.7% during the second quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after acquiring an additional 126 shares during the period. Parkside Financial Bank & Trust boosted its position in Trimble by 18.4% in the second quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 141 shares during the last quarter. Balboa Wealth Partners grew its stake in 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 valued at $243,000 after purchasing an additional 144 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Trimble by 2.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,350 shares of the scientific and technical instruments company’s stock valued at $518,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 1.1%

Shares of TRMB stock opened at $67.60 on Friday. The stock has a market capitalization of $16.08 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 2.38 and a beta of 1.59. The company’s fifty day simple moving average is $78.41 and its two-hundred day simple moving average is $79.90. Trimble Inc. has a 1 year low of $52.91 and a 1 year 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.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The company had revenue of $901.20 million during the quarter, compared to analysts’ expectations of $870.30 million. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. 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 anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble declared that its board has authorized a stock repurchase program on Friday, December 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $81.00, for a total value of $139,158.00. Following the sale, the director directly owned 15,170 shares of the company’s stock, valued at approximately $1,228,770. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Calvin Dalton sold 616 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $81.99, for a total transaction of $50,505.84. Following the completion of the transaction, the director owned 13,193 shares of the company’s stock, valued at $1,081,694.07. This trade represents a 4.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 27,084 shares of company stock valued at $2,183,951. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

TRMB has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Trimble from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. KeyCorp upgraded shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research note on Wednesday, January 21st. Barclays lifted their price target on shares of Trimble from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $102.00 price objective on shares of Trimble in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.78.

Trimble Company 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.