Is it the Time to Harvest Trimble (TRMB) Stock?

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners highlighted stocks like Trimble Inc. (NASDAQ:TRMB) in the fourth quarter 2022 investor letter. Headquartered in Westminster, Colorado, Trimble Inc. (NASDAQ:TRMB) is a technology solutions provider. On January 19, 2023, Trimble Inc. (NASDAQ:TRMB) stock closed at $54.20 per share. One-month return of Trimble Inc. (NASDAQ:TRMB) was 11.66%, and its shares lost 23.25% of their value over the last 52 weeks. Trimble Inc. (NASDAQ:TRMB) has a market capitalization of $13.367 billion.

Artisan Partners made the following comment about Trimble Inc. (NASDAQ:TRMB) in its Q4 2022 investor letter:

Trimble Inc. (NASDAQ:TRMB) is an industrial technology company that is bringing software, sensor and device solutions to areas of the economy that have been historically relatively slower to adopt new technology—such as agriculture, transportation and construction. While Trimble has made progress shifting its business toward software, its remaining hardware business is beginning to come under cyclical pressure. In addition, the company is taking on additional debt to fund an acquisition in its transportation technology segment, which is an area of the business we find less attractive. We believe Bentley System’s greater focus on civil construction software leaves it better positioned for the next few years, so we decided to harvest Trimble to fund this new investment.”

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Trimble Inc. (NASDAQ:TRMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Trimble Inc. (NASDAQ:TRMB) at the end of the third quarter, which was 34 in the previous quarter.

We discussed Trimble Inc. (NASDAQ:TRMB) in another article and shared the technology stock picks of Simm’s Impax Management at the end of the second quarter. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.