Trust Co. of Vermont bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB – Get Rating) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 500 shares of the scientific and technical instruments company's stock, valued at approximately $29,000.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Trimble by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 27,575,624 shares of the scientific and technical instruments company's stock valued at $1,989,305,000 after acquiring an additional 342,426 shares during the period. BlackRock Inc. raised its holdings in Trimble by 1.7% during the first quarter. BlackRock Inc. now owns 18,849,775 shares of the scientific and technical instruments company's stock worth $1,359,823,000 after buying an additional 315,596 shares during the last quarter. Select Equity Group L.P. raised its holdings in Trimble by 101.0% during the first quarter. Select Equity Group L.P. now owns 8,194,587 shares of the scientific and technical instruments company's stock worth $591,158,000 after buying an additional 4,118,552 shares during the last quarter. Primecap Management Co. CA raised its holdings in Trimble by 0.6% during the first quarter. Primecap Management Co. CA now owns 5,766,271 shares of the scientific and technical instruments company's stock worth $415,979,000 after buying an additional 33,290 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Trimble by 0.3% during the first quarter. King Luther Capital Management Corp now owns 4,113,593 shares of the scientific and technical instruments company's stock worth $296,755,000 after buying an additional 11,718 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company's stock.
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Trimble Stock Performance
NASDAQ TRMB opened at $54.27 on Monday. Trimble Inc. has a 1 year low of $54.18 and a 1 year high of $91.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.02 and a quick ratio of 0.76. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.81 and a beta of 1.57. The company has a fifty day moving average price of $64.32 and a 200-day moving average price of $64.94.
Trimble (NASDAQ:TRMB – Get Rating) last posted its earnings results on Friday, August 5th. The scientific and technical instruments company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. Trimble had a net
margin of 13.76% and a return on equity of 14.63%. The firm had revenue of $941.20 million during the quarter, compared to analyst estimates of $928.99 million. During the same quarter in the prior year, the business posted $0.61 EPS. The business's revenue was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Trimble Inc. will post 2.36 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on TRMB shares. JPMorgan Chase & Co. lowered their price objective on shares of Trimble from $70.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, July 12th. Wolfe Research started coverage on shares of Trimble in a report on Tuesday, August 16th. They set a "market perform" rating on the stock. Piper Sandler downgraded shares of Trimble from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $82.00 to $70.00 in a report on Thursday, September 8th. Finally, StockNews.com upgraded shares of Trimble from a "hold" rating to a "buy" rating in a report on Friday, September 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $74.40.
Insider Transactions at Trimble
In related news, SVP Darryl R. Matthews sold 4,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.30, for a total transaction of $285,200.00. Following the completion of the transaction, the senior vice president now owns 38,136 shares in the company, valued at $2,719,096.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP James A. Kirkland sold 5,412 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $71.53, for a total transaction of $387,120.36. Following the completion of the transaction, the senior vice president now owns 65,132 shares in the company, valued at $4,658,891.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Darryl R. Matthews sold 4,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.30, for a total transaction of $285,200.00. Following the transaction, the senior vice president now owns 38,136 shares of the company's stock, valued at approximately $2,719,096.80. The disclosure for this sale can be found here. Insiders sold a total of 25,676 shares of company stock worth $1,785,537 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.
About Trimble
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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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