BlackRock Inc. lifted its holdings in shares of Trimble Inc (NASDAQ:TRMB) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,195,889 shares of the scientific and technical instruments company’s stock after purchasing an additional 277,736 shares during the quarter. BlackRock Inc. owned approximately 0.09% of Trimble worth $942,682,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its stake in Trimble by 3.0% in the 4th quarter. Rhumbline Advisers now owns 563,520 shares of the scientific and technical instruments company’s stock valued at $22,901,000 after buying an additional 16,462 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Trimble by 35.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,131 shares of the scientific and technical instruments company’s stock valued at $412,000 after buying an additional 2,647 shares during the last quarter. Shell Asset Management Co. grew its stake in Trimble by 139.5% in the 4th quarter. Shell Asset Management Co. now owns 93,675 shares of the scientific and technical instruments company’s stock valued at $3,807,000 after buying an additional 54,560 shares during the last quarter. Arizona State Retirement System grew its stake in Trimble by 26.3% in the 4th quarter. Arizona State Retirement System now owns 181,207 shares of the scientific and technical instruments company’s stock valued at $7,364,000 after buying an additional 37,765 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its stake in Trimble by 1,940.6% in the 4th quarter. Pinebridge Investments L.P. now owns 51,015 shares of the scientific and technical instruments company’s stock valued at $2,073,000 after buying an additional 48,515 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.
Shares of Trimble Inc (NASDAQ TRMB) opened at $38.18 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.33. The stock has a market cap of $9,500.00, a price-to-earnings ratio of 47.14, a price-to-earnings-growth ratio of 2.31 and a beta of 2.38. Trimble Inc has a 12-month low of $30.45 and a 12-month high of $45.70.
Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $708.40 million for the quarter, compared to analyst estimates of $674.84 million. Trimble had a net margin of 4.56% and a return on equity of 13.37%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. sell-side analysts predict that Trimble Inc will post 1.5 earnings per share for the current fiscal year.
Trimble announced that its board has initiated a stock repurchase program on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price (up from $42.00) on shares of Trimble in a research note on Sunday, October 29th. Oppenheimer reiterated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Trimble in a research note on Wednesday, January 31st. Zacks Investment Research upgraded shares of Trimble from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, October 31st. TheStreet lowered shares of Trimble from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Finally, Wells Fargo & Co raised their target price 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Trimble presently has a consensus rating of “Hold” and a consensus price target of $42.10.
In other Trimble news, VP Jurgen Kliem sold 995 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $42.50, for a total value of $42,287.50. Following the sale, the vice president now directly owns 18,175 shares in the company, valued at approximately $772,437.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven W. Berglund sold 200,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $39.25, for a total transaction of $7,850,000.00. The disclosure for this sale can be found here. Insiders sold a total of 422,941 shares of company stock worth $16,696,928 over the last 90 days. Company insiders own 1.40% of the company’s stock.
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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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