Trimble Inc. $TRMB Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in Trimble Inc. (NASDAQ:TRMB) by 36.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 373,707 shares of the scientific and technical instruments company’s stock after selling 214,604 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Trimble were worth $21,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TRMB. Parallel Advisors LLC increased its stake in Trimble by 34.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,213 shares of the scientific and technical instruments company’s stock worth $126,000 after purchasing an additional 563 shares in the last quarter. CenterBook Partners LP acquired a new stake in Trimble during the 3rd quarter worth about $442,000. International Assets Investment Management LLC lifted its stake in Trimble by 34.5% during the third quarter. International Assets Investment Management LLC now owns 3,623 shares of the scientific and technical instruments company’s stock valued at $208,000 after buying an additional 929 shares in the last quarter. Heritage Family Offices LLP purchased a new stake in Trimble during the third quarter valued at about $36,000. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Trimble by 15.1% in the third quarter. Kestra Advisory Services LLC now owns 28,343 shares of the scientific and technical instruments company’s stock worth $1,619,000 after buying an additional 3,719 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trimble

In other news, Director Kaigham Gabriel sold 2,476 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $65.00, for a total value of $160,940.00. Following the completion of the sale, the director directly owned 14,950 shares of the company’s stock, valued at $971,750. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of Trimble in a research report on Monday, October 26th. They issued a “buy” rating and a $76.00 target price on the stock. Sanford C. Bernstein reduced their price target on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. JPMorgan Chase & Co. decreased their price objective on shares of Trimble from $75.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Finally, Raymond James Financial cut shares of Trimble from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Trimble has an average rating of “Moderate Buy” and a consensus target price of $78.22.

Trimble Stock Up 3.2%

NASDAQ:TRMB opened at $56.48 on Thursday. The business’s fifty day moving average price is $59.39 and its 200 day moving average price is $60.26. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of -80.68, a PEG ratio of 1.77 and a beta of 1.32. The company has a current ratio of 0.93, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. Trimble Inc. has a 1-year low of $47.92 and a 1-year high of $84.42.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. Trimble had a positive return on equity of 12.73% and a negative net margin of 4.08%. The firm had revenue of $966.80 million during the quarter, compared to analyst estimates of $966.41 million. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Trimble Inc. will post 3.10 earnings per share for the current fiscal year.

Trimble Company Profile

Trimble Inc. develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture. Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.