Trimble Inc. (NASDAQ:TRMB) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its stake in Trimble Inc. (NASDAQ:TRMB) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,234 shares of the scientific and technical instruments company’s stock after selling 4,153 shares during the quarter. Congress Asset Management Co. owned about 0.06% of Trimble worth $9,390,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TRMB. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Trimble by 25.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after acquiring an additional 60,409 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Trimble by 484.3% during the first quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after purchasing an additional 75,182 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Trimble by 11.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock valued at $15,960,000 after buying an additional 24,938 shares during the period. Trustmark National Bank Trust Department acquired a new stake in shares of Trimble during the 1st quarter worth approximately $579,000. Finally, Swedbank AB purchased a new stake in shares of Trimble during the 1st quarter valued at approximately $17,937,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. increased their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird increased their price objective on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Down 1.4 %

NASDAQ:TRMB opened at $60.50 on Friday. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The firm has a market cap of $14.77 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $59.13 and a 200 day moving average price of $57.12.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. Sell-side analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

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.