Trimble Inc. $TRMB Holdings Trimmed by D.B. Root & Company LLC

D.B. Root & Company LLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,448 shares of the scientific and technical instruments company’s stock after selling 1,094 shares during the period. D.B. Root & Company LLC’s holdings in Trimble were worth $870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRMB. Nuveen LLC purchased a new position in Trimble during the 1st quarter worth approximately $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Trimble by 26.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock worth $458,113,000 after purchasing an additional 1,445,851 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Trimble by 338.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company’s stock valued at $53,564,000 after acquiring an additional 629,960 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock valued at $1,988,450,000 after acquiring an additional 582,124 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Trimble by 296.5% during the 1st quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company’s stock valued at $48,680,000 after acquiring an additional 554,514 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRMB has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Raymond James Financial restated an “outperform” rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Berenberg Bank set a $95.00 price target on shares of Trimble and gave the company a “buy” rating in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Saturday, September 27th. Finally, Oppenheimer boosted their price target on shares of Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $91.22.

Insiders Place Their Bets

In related news, VP Jennifer Allison sold 3,156 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the sale, the vice president owned 2,882 shares of the company’s stock, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. The trade was a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,881 shares of company stock valued at $19,066,393 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Trimble Stock Up 0.6%

Shares of TRMB opened at $80.72 on Monday. The company has a 50-day simple moving average of $81.79 and a 200-day simple moving average of $74.01. The firm has a market capitalization of $19.21 billion, a P/E ratio of 69.59, a P/E/G ratio of 3.31 and a beta of 1.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble Company Profile

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.