Trimble Inc (TRMB) Holdings Raised by Highbridge Capital Management LLC
Highbridge Capital Management LLC raised its position in shares of Trimble Inc (NASDAQ:TRMB) by 54.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,697 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,131 shares during the period. Highbridge Capital Management LLC’s holdings in Trimble were worth $459,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in TRMB. Toronto Dominion Bank boosted its holdings in Trimble by 13.0% during the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 357 shares during the period. Commonwealth Bank of Australia boosted its holdings in Trimble by 17.2% during the second quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after acquiring an additional 500 shares during the period. Howe & Rusling Inc. bought a new stake in Trimble during the third quarter valued at about $139,000. Advisor Group Inc. boosted its holdings in Trimble by 3.7% during the second quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 144 shares during the period. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Trimble during the second quarter valued at about $168,000. Institutional investors own 89.73% of the company’s stock.
In related news, VP Jurgen Kliem sold 995 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $42.50, for a total value of $42,287.50. Following the completion of the transaction, the vice president now owns 18,175 shares of the company’s stock, valued at $772,437.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Darryl R. Matthews sold 1,094 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $40.51, for a total transaction of $44,317.94. Following the completion of the transaction, the senior vice president now directly owns 4,475 shares of the company’s stock, valued at approximately $181,282.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 320,278 shares of company stock valued at $12,969,243. 1.40% of the stock is owned by corporate insiders.
Trimble (NASDAQ:TRMB) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Trimble had a net margin of 7.66% and a return on equity of 12.97%. The business had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $660.11 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. research analysts forecast that Trimble Inc will post 1.27 EPS for the current year.
Trimble declared that its board has initiated a stock buyback program on Wednesday, November 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday. Berenberg Bank assumed coverage on shares of Trimble in a report on Wednesday, August 23rd. They set a “hold” rating and a $38.00 price target for the company. Piper Jaffray Companies set a $43.00 price target on shares of Trimble and gave the company a “buy” rating in a report on Sunday, October 1st. Robert W. Baird increased their target price on shares of Trimble from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, September 22nd. Finally, Oppenheimer reiterated a “buy” rating on shares of Trimble in a research note on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.70.
Trimble Company Profile
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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