Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Trimble Inc. (NASDAQ:TRMB – Free Report) by 46.7% during the second quarter, Holdings Channel reports. The institutional investor owned 2,345 shares of the scientific and technical instruments company’s stock after buying an additional 747 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Trimble were worth $178,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Trimble during the first quarter valued at approximately $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 valued at $458,113,000 after acquiring an additional 1,445,851 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Trimble by 338.8% in 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 during the last quarter. Vanguard Group Inc. grew its position in 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 valued at $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. Finally, Raymond James Financial Inc. grew 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 during the last quarter. 93.21% of the stock is currently owned by institutional investors.
Get Trimble alerts:
Insider Buying and Selling
In related news, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the transaction, the director owned 13,809 shares in the company, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,992 shares of company stock worth $18,579,506. 0.54% of the stock is owned by corporate insiders.
Trimble Stock Down 0.1%
Shares of TRMB opened at $80.89 on Wednesday. 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 stock’s 50 day moving average is $81.96 and its two-hundred day moving average is $72.87. The firm has a market cap of $19.25 billion, a P/E ratio of 69.73, a PEG ratio of 3.32 and a beta of 1.66. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50.
Trimble (NASDAQ:TRMB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on TRMB shares. JPMorgan Chase & Co. increased their price target on Trimble from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Oppenheimer increased their price target on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $90.50.
Read Our Latest Stock Report on Trimble
Trimble Profile
(Free Report)
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.
See Also
Five stocks we like better than Trimble
What is Put Option Volume?
Is It Time to Trim Your Positions in These 2 AI Stocks?
How Can Investors Benefit From After-Hours Trading
These 3 Tech Stocks Just Supercharged Their Buybacks
Where to Find Earnings Call Transcripts
3 Dividend Stocks to Hold Through Market Volatility This Fall
Want to see what other hedge funds are holding TRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trimble Inc. (NASDAQ:TRMB – Free Report).