Charles Schwab Investment Management Inc. Cuts Stake in Trimble Inc. $TRMB

Charles Schwab Investment Management Inc. cut its stake in Trimble Inc. (NASDAQ:TRMB) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,099,359 shares of the scientific and technical instruments company’s stock after selling 13,901 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Trimble were worth $159,509,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRMB. Catalyst Capital Advisors LLC acquired a new position in shares of Trimble during the second quarter valued at approximately $34,000. Ameritas Advisory Services LLC purchased a new stake in shares of Trimble during the second quarter worth approximately $48,000. Flaharty Asset Management LLC acquired a new position in Trimble in the 1st quarter valued at $45,000. Steph & Co. raised its stake in Trimble by 592.0% in the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after purchasing an additional 592 shares during the last quarter. Finally, Evelyn Partners Investment Management LLP lifted its holdings in Trimble by 605.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 705 shares of the scientific and technical instruments company’s stock valued at $49,000 after purchasing an additional 605 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trimble

In other news, Director Kaigham Gabriel sold 1,718 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the transaction, the director owned 15,170 shares of the company’s stock, valued at $1,228,770. This represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert G. Painter sold 7,500 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $6,747,880.50. This represents a 8.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 24,083 shares of company stock worth $1,904,798. Insiders own 0.54% of the company’s stock.

Trimble Price Performance

Trimble stock opened at $81.27 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $79.39 and a 200 day moving average price of $78.40. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The stock has a market cap of $19.34 billion, a P/E ratio of 70.06, a PEG ratio of 3.26 and a beta of 1.66.

Trimble (NASDAQ:TRMB) last posted its 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. Sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TRMB. JPMorgan Chase & Co. upped their target price on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Wells Fargo & Company started coverage on shares of Trimble in a research report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $102.00 target price on shares of Trimble in a report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $94.18.

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.