Raymond James & Associates Raises Position in Trimble Inc (TRMB)

Raymond James & Associates increased its stake in shares of Trimble Inc (NASDAQ:TRMB) by 343.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,713 shares of the scientific and technical instruments company’s stock after purchasing an additional 24,560 shares during the period. Raymond James & Associates’ holdings in Trimble were worth $1,041,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. acquired a new position in shares of Trimble during the 2nd quarter worth approximately $102,000. Psagot Investment House Ltd. acquired a new position in shares of Trimble during the 2nd quarter worth approximately $118,000. Korea Investment CORP acquired a new position in shares of Trimble during the 2nd quarter worth approximately $131,000. Summit Trail Advisors LLC raised its position in shares of Trimble by 2,852.1% during the 1st quarter. Summit Trail Advisors LLC now owns 152,387 shares of the scientific and technical instruments company’s stock worth $152,000 after purchasing an additional 147,225 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new position in shares of Trimble during the 2nd quarter worth approximately $270,000. Hedge funds and other institutional investors own 90.04% of the company’s stock.

In other news, SVP James A. Kirkland sold 27,292 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $39.72, for a total transaction of $1,084,038.24. Following the completion of the sale, the senior vice president now directly owns 66,856 shares of the company’s stock, valued at approximately $2,655,520.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert G. Painter sold 750 shares of the business’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $38.87, for a total transaction of $29,152.50. Following the sale, the chief financial officer now directly owns 10,888 shares of the company’s stock, valued at $423,216.56. The disclosure for this sale can be found here. Insiders sold a total of 110,501 shares of company stock valued at $4,482,076 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on TRMB. Zacks Investment Research downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub cut shares of Trimble from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Finally, ValuEngine cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.00.

TRMB stock opened at $38.79 on Friday. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.59 and a beta of 2.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.93 and a quick ratio of 1.54. Trimble Inc has a one year low of $32.01 and a one year high of $45.70.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.05. The firm had revenue of $785.50 million during the quarter, compared to analysts’ expectations of $776.31 million. Trimble had a net margin of 4.93% and a return on equity of 15.46%. Trimble’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, sell-side analysts expect that Trimble Inc will post 1.62 EPS for the current year.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.

Further Reading: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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