Sumitomo Life Insurance Co. Raises Stake in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Life Insurance Co. increased its stake in Trimble Inc. (NASDAQ:TRMB) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,933 shares of the scientific and technical instruments company’s stock after buying an additional 760 shares during the period. Sumitomo Life Insurance Co.’s holdings in Trimble were worth $2,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRMB. Vanguard Group Inc. increased its position in shares of Trimble by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after acquiring an additional 273,863 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings 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 during the period. Victory Capital Management Inc. raised its position in Trimble by 1,387.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after purchasing an additional 3,589,249 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Trimble by 7.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after buying an additional 239,673 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after buying an additional 516,789 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 0.3 %

Shares of Trimble stock traded up $0.18 on Wednesday, reaching $61.90. The stock had a trading volume of 68,123 shares, compared to its average volume of 1,363,021. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $15.12 billion, a P/E ratio of 64.29, a P/E/G ratio of 2.77 and a beta of 1.49. The company has a 50 day moving average price of $57.47 and a 200 day moving average price of $57.16. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. lifted their price objective on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. Finally, Robert W. Baird increased their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trimble currently has an average rating of “Moderate Buy” and an average target price of $66.67.

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.