Comerica Bank Reduces Stake in Trimble Inc. (NASDAQ:TRMB) (2024)

Comerica Bank decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB – Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,837 shares of the scientific and technical instruments company’s stock after selling 953 shares during the quarter. Comerica Bank’s holdings in Trimble were worth $2,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Trimble by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock worth $68,000 after purchasing an additional 196 shares during the last quarter. Fulton Bank N.A. grew its stake in Trimble by 2.6% during the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after buying an additional 199 shares during the last quarter. First Eagle Investment Management LLC increased its position in Trimble by 6.8% during the fourth quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 200 shares during the period. Czech National Bank lifted its stake in Trimble by 0.5% in the first quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after buying an additional 201 shares during the last quarter. Finally, SVB Wealth LLC boosted its holdings in shares of Trimble by 4.8% in the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after acquiring an additional 204 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $50.59 on Thursday. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a 50-day moving average price of $55.29 and a 200 day moving average price of $57.58. The company has a market cap of $12.35 billion, a P/E ratio of 52.70, a PEG ratio of 2.31 and a beta of 1.50. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The business had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same period last year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Trimble Inc. will post 2.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, May 6th. Finally, Raymond James reiterated an “outperform” rating and issued a $65.00 target price on shares of Trimble in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average target price of $65.17.

View Our Latest Stock Analysis on Trimble

Trimble Company Profile

(Free Report)

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.

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