State Board of Administration of Florida Retirement System Has $19.66 Million Holdings in Trimble Inc. $TRMB

State Board of Administration of Florida Retirement System increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 1.2% during the second quarter, Holdings Channel.com reports. The fund owned 258,724 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,970 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Trimble were worth $19,658,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Trimble during the 1st quarter worth approximately $122,070,000. Generation Investment Management LLP grew its position in 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 buying an additional 1,449,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 acquiring an additional 1,445,851 shares during the period. Vanguard Group Inc. increased its stake in 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 worth $1,988,450,000 after acquiring an additional 582,124 shares during the period. Finally, Raymond James Financial Inc. raised its holdings 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 own 93.21% of the company’s stock.

Insider Activity

In other news, VP Christopher F. Keating sold 7,365 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the transaction, the vice president directly owned 406 shares in the company, valued at $33,186.44. This trade represents a 94.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kaigham Gabriel sold 1,718 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the sale, the director owned 15,170 shares in the company, valued at $1,228,770. The trade was a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 24,083 shares of company stock valued at $1,904,798. Company insiders own 0.54% of the company’s stock.

Trimble Trading Up 0.2%

TRMB opened at $81.42 on Monday. The company’s 50 day moving average is $79.36 and its 200-day moving average is $78.60. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. 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 market cap of $19.37 billion, a P/E ratio of 70.19, a PEG ratio of 3.26 and a beta of 1.66.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on TRMB shares. Berenberg Bank set a $95.00 target price on Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Piper Sandler reiterated an “overweight” rating and set a $97.00 price objective on shares of Trimble in a research note on Friday, November 7th. Raymond James Financial reissued an “outperform” rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Oppenheimer restated an “outperform” rating and issued a $102.00 target price on shares of Trimble in a research report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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.