Shell Asset Management Co. Reduces Stake in Trimble Inc. (NASDAQ:TRMB)

Shell Asset Management Co. decreased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 25.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,622 shares of the scientific and technical instruments company’s stock after selling 4,392 shares during the period. Shell Asset Management Co.’s holdings in Trimble were worth $812,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Frazier Financial Advisors LLC bought a new position in Trimble in the 4th quarter worth about $26,000. Tobam bought a new position in shares of Trimble during the 1st quarter valued at about $35,000. Principal Securities Inc. bought a new position in shares of Trimble during the 4th quarter valued at about $52,000. Sound Income Strategies LLC increased its position in shares of Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 631 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in shares of Trimble during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 1.2 %

NASDAQ TRMB opened at $55.36 on Friday. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00. The stock has a 50 day simple moving average of $56.00 and a two-hundred day simple moving average of $57.43. The stock has a market cap of $13.52 billion, a P/E ratio of 57.67, a price-to-earnings-growth ratio of 2.48 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $953.30 million during the quarter, compared to analysts’ expectations of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. On average, analysts forecast that Trimble Inc. will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRMB shares. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Monday, May 6th. Raymond James restated an “outperform” rating and set a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Trimble Company 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.