Trimble Inc. $TRMB Holdings Increased by SouthState Corp

SouthState Corp grew its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 164.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,108 shares of the scientific and technical instruments company’s stock after buying an additional 61,016 shares during the quarter. SouthState Corp’s holdings in Trimble were worth $7,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Trimble by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock worth $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Trimble by 26.1% during the first 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 valued at $458,113,000 after acquiring an additional 1,445,851 shares during the period. Invesco Ltd. raised its holdings in shares of Trimble by 9.7% during the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company’s stock valued at $252,132,000 after acquiring an additional 339,750 shares during the period. Boston Partners raised its holdings in shares of Trimble by 7.9% during the first quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company’s stock valued at $237,884,000 after acquiring an additional 267,829 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Trimble by 19.8% during the first quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company’s stock valued at $202,526,000 after acquiring an additional 510,509 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Calvin Dalton sold 609 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director owned 13,809 shares in the company, valued at $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 224,321 shares of company stock worth $18,677,518. 0.54% of the stock is owned by insiders.

Trimble Stock Performance

TRMB stock opened at $80.57 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 69.46, a P/E/G ratio of 3.26 and a beta of 1.66. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The firm has a 50 day moving average of $80.08 and a two-hundred day moving average of $76.76.

Trimble (NASDAQ:TRMB) last posted its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $856.50 million during the quarter. As a group, equities analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Finally, Barclays assumed coverage on shares of Trimble in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $92.10.

About Trimble

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.