Contravisory Investment Management Inc. reduced its position in shares of Trimble Inc (NASDAQ:TRMB) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,106 shares of the scientific and technical instruments company’s stock after selling 15,510 shares during the quarter. Trimble accounts for approximately 2.1% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Contravisory Investment Management Inc. owned approximately 0.06% of Trimble worth $5,653,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Trillium Asset Management LLC boosted its stake in shares of Trimble by 40.4% during the 3rd quarter. Trillium Asset Management LLC now owns 54,353 shares of the scientific and technical instruments company’s stock worth $2,133,000 after acquiring an additional 15,646 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in shares of Trimble by 60.3% during the 3rd quarter. Vident Investment Advisory LLC now owns 337,784 shares of the scientific and technical instruments company’s stock worth $13,258,000 after acquiring an additional 127,066 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Trimble during the 3rd quarter worth about $952,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Trimble during the 2nd quarter worth about $582,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Trimble by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,311,301 shares of the scientific and technical instruments company’s stock worth $51,468,000 after acquiring an additional 3,950 shares in the last quarter. 90.72% of the stock is currently owned by institutional investors and hedge funds.
TRMB has been the topic of a number of research reports. Zacks Investment Research raised shares of Trimble from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday, December 26th. BidaskClub lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Wells Fargo & Co raised their price target on shares of Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target (up from $42.00) on shares of Trimble in a research note on Sunday, October 29th. Finally, Oppenheimer raised their price target on shares of Trimble from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.60.
Shares of Trimble Inc (NASDAQ TRMB) traded up $0.17 during trading on Thursday, reaching $44.08. 723,723 shares of the company were exchanged, compared to its average volume of 894,200. The stock has a market cap of $11,160.00, a price-to-earnings ratio of 58.00, a PEG ratio of 2.63 and a beta of 2.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble Inc has a 1 year low of $28.61 and a 1 year high of $44.32.
Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $660.11 million. Trimble had a net margin of 7.66% and a return on equity of 12.97%. Trimble’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. equities analysts anticipate that Trimble Inc will post 1.27 EPS for the current fiscal year.
Trimble announced that its board has approved a share buyback plan on Wednesday, November 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Trimble news, CEO Steven W. Berglund sold 200,000 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $40.45, for a total value of $8,090,000.00. Following the completion of the sale, the chief executive officer now owns 350,489 shares in the company, valued at approximately $14,177,280.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jurgen Kliem sold 995 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $42.50, for a total transaction of $42,287.50. Following the completion of the sale, the vice president now owns 18,175 shares of the company’s stock, valued at approximately $772,437.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 320,278 shares of company stock valued at $12,969,243. 1.40% of the stock is owned by insiders.
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Trimble Company Profile
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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