Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Trimble Inc. (NASDAQ:TRMB) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,210 shares of the scientific and technical instruments company’s stock after selling 653 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Trimble were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after buying an additional 273,863 shares in the last quarter. Generation Investment Management LLP increased its position in Trimble by 89.5% during the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after purchasing an additional 5,796,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Trimble by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after purchasing an additional 126,472 shares in the last quarter. Primecap Management Co. CA increased its position in Trimble by 3.9% during the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after purchasing an additional 188,790 shares in the last quarter. Finally, FIL Ltd increased its position in Trimble by 5.2% during the 4th quarter. FIL Ltd now owns 3,588,699 shares of the scientific and technical instruments company’s stock worth $190,919,000 after purchasing an additional 178,375 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 1.2 %

TRMB traded up $0.66 during midday trading on Friday, hitting $55.36. The company’s stock had a trading volume of 1,258,068 shares, compared to its average volume of 952,288. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The firm has a market cap of $13.52 billion, a P/E ratio of 57.67, a PEG ratio of 2.51 and a beta of 1.50. The firm has a 50-day moving average price of $56.00 and a two-hundred day moving average price of $57.52. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company 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, research analysts anticipate that Trimble Inc. will post 2.21 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TRMB. Piper Sandler reiterated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, May 6th. 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 reiterated an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.