Brandywine Global Investment Management LLC Acquires Shares of 86,956 Trimble Inc. $TRMB

Brandywine Global Investment Management LLC bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 86,956 shares of the scientific and technical instruments company’s stock, valued at approximately $6,607,000.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new position in Trimble during the first quarter worth $122,070,000. Generation Investment Management LLP increased its position in shares of Trimble by 19.1% during the second quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock worth $685,314,000 after acquiring an additional 1,449,315 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% in 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 acquiring an additional 1,445,851 shares during the last quarter. 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 acquiring an additional 582,124 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in Trimble by 296.5% in 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. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.50, for a total value of $596,250.00. Following the transaction, the chief executive officer owned 84,879 shares in the company, valued at approximately $6,747,880.50. This represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Calvin Dalton sold 609 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares of the company’s stock, valued at $1,137,999.69. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,692 shares of company stock worth $1,954,986 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Berenberg Bank set a $95.00 price target on Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Raymond James Financial reissued an “outperform” rating and issued a $93.00 price target (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wells Fargo & Company initiated coverage on shares of Trimble in a report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $97.00 target price on shares of Trimble in a report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Trimble currently has a consensus rating of “Buy” and an average target price of $94.18.

Trimble Trading Up 3.0%

Shares of Trimble stock opened at $77.03 on Friday. The firm has a market cap of $18.33 billion, a PE ratio of 66.41, a P/E/G ratio of 3.26 and a beta of 1.66. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The stock has a fifty day moving average price of $79.40 and a 200-day moving average price of $78.13.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share 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 for the quarter. Equities research analysts anticipate that Trimble Inc. will post 2.37 EPS 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.