Trimble Inc. (NASDAQ:TRMB) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Trimble Inc. (NASDAQ:TRMB) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,747 shares of the scientific and technical instruments company’s stock after buying an additional 3,799 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Trimble worth $7,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TRMB. Caprock Group LLC raised its position in shares of Trimble by 2.5% in the third quarter. Caprock Group LLC now owns 12,305 shares of the scientific and technical instruments company’s stock valued at $663,000 after buying an additional 303 shares during the last quarter. Czech National Bank raised its position in shares of Trimble by 48.0% in the third quarter. Czech National Bank now owns 43,401 shares of the scientific and technical instruments company’s stock valued at $2,338,000 after buying an additional 14,073 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Trimble by 2.6% in the third quarter. Asset Management One Co. Ltd. now owns 232,460 shares of the scientific and technical instruments company’s stock valued at $12,520,000 after buying an additional 5,884 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Trimble by 46.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 26,134 shares of the scientific and technical instruments company’s stock valued at $1,408,000 after purchasing an additional 8,271 shares during the period. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of Trimble by 51.3% in the third quarter. Sumitomo Life Insurance Co. now owns 45,906 shares of the scientific and technical instruments company’s stock valued at $2,472,000 after purchasing an additional 15,556 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRMB. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a report on Monday, April 15th. Oppenheimer upped their price objective on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Robert W. Baird upped their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trimble presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.83.

Insider Buying and Selling

In related news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The disclosure for this sale can be found here. Insiders have sold 16,828 shares of company stock worth $1,013,519 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Trimble Stock Performance

Shares of Trimble stock traded up $0.94 during trading on Friday, reaching $60.15. The company’s stock had a trading volume of 790,684 shares, compared to its average volume of 1,381,476. The company has a 50-day moving average price of $61.72 and a two-hundred day moving average price of $53.44. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. The firm has a market cap of $14.69 billion, a PE ratio of 48.12, a P/E/G ratio of 2.67 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The business had revenue of $932.40 million for the quarter, compared to analysts’ expectations of $908.43 million. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

About Trimble

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.