MAI Capital Management purchased a new stake in Trimble Inc. (NASDAQ:TRMB – Get Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,938 shares of the scientific and technical instruments company's stock, valued at approximately $753,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Advisory LLC acquired a new stake in shares of Trimble during the 4th quarter worth approximately $26,000. GHP Investment Advisors Inc. acquired a new position in shares of Trimble in the 1st quarter valued at $26,000. DeDora Capital Inc. bought a new position in shares of Trimble in the 1st quarter worth $27,000. Atwood & Palmer Inc. bought a new stake in Trimble in the first quarter valued at about $29,000. Finally, Allworth Financial LP increased its holdings in Trimble by 715.6% in the first quarter. Allworth Financial LP now owns 522 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 458 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
TRMB has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on Trimble from $70.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, July 12th. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Friday, September 9th. Piper Sandler cut shares of Trimble from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $82.00 to $70.00 in a research report on Thursday, September 8th. Finally, Wolfe Research began coverage on Trimble in a report on Tuesday, August 16th. They set a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Trimble has an average rating of "Hold" and an average price target of $74.40.
Insider Transactions at Trimble
In other Trimble news, SVP Peter Large sold 2,188 shares of Trimble stock in a transaction on Friday, August 12th. The shares were sold at an average price of $71.32, for a total value of $156,048.16. The sale was disclosed in a document filed with the SEC, which is available through
this hyperlink. In other news, SVP Darryl R. Matthews sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $71.30, for a total value of $285,200.00. Following the completion of the sale, the senior vice president now owns 38,136 shares of the company's stock, valued at approximately $2,719,096.80. The transaction was disclosed in a legal filing with the SEC, which is available at
this link. Also, SVP Peter Large sold 2,188 shares of the business's stock in a transaction on Friday, August 12th. The stock was sold at an average price of $71.32, for a total transaction of $156,048.16. The disclosure for this sale can be found
here. Insiders have sold a total of 25,676 shares of company stock valued at $1,785,537 over the last 90 days. 0.43% of the stock is owned by corporate insiders.
Trimble Trading Down 1.8 %
TRMB opened at $54.27 on Friday. The firm's fifty day simple moving average is $64.32 and its 200 day simple moving average is $65.00. The stock has a market capitalization of $13.44 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.85 and a beta of 1.58. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.26. Trimble Inc. has a 12 month low of $54.18 and a 12 month high of $91.96.
Trimble (NASDAQ:TRMB – Get Rating) last posted its quarterly earnings data on Friday, August 5th. The scientific and technical instruments company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. Trimble had a return on equity of 14.63% and a net margin of 13.76%. The business had revenue of $941.20 million during the quarter, compared to the consensus estimate of $928.99 million. During the same period last year, the company earned $0.61 earnings per share. Trimble's quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts anticipate that Trimble Inc. will post 2.36 EPS for the current fiscal year.
Trimble Company Profile
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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 route selection and design; 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.
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