AQR Capital Management LLC Trims Holdings in Trimble Inc (TRMB)

AQR Capital Management LLC lowered its position in Trimble Inc (NASDAQ:TRMB) by 61.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,445 shares of the scientific and technical instruments company’s stock after selling 80,567 shares during the quarter. AQR Capital Management LLC’s holdings in Trimble were worth $2,192,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Trimble by 215.3% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,396 shares of the scientific and technical instruments company’s stock worth $104,000 after buying an additional 1,636 shares during the period. Commerce Bank bought a new position in Trimble in the 3rd quarter valued at $211,000. Redpoint Investment Management Pty Ltd bought a new position in Trimble in the 3rd quarter valued at $241,000. Private Advisor Group LLC bought a new position in Trimble in the 3rd quarter valued at $252,000. Finally, Summit Creek Advisors LLC bought a new position in Trimble in the 3rd quarter valued at $253,000. Institutional investors own 90.30% of the company’s stock.

Several research firms have recently commented on TRMB. Zacks Investment Research cut Trimble from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Saturday, November 17th. BidaskClub raised Trimble from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.50.

In other news, insider James A. Kirkland sold 14,292 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $39.37, for a total value of $562,676.04. Following the sale, the insider now directly owns 51,436 shares in the company, valued at $2,025,035.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Darryl R. Matthews sold 2,400 shares of the business’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $37.21, for a total value of $89,304.00. Following the completion of the sale, the senior vice president now owns 13,841 shares in the company, valued at $515,023.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,492 shares of company stock valued at $715,754. Insiders own 0.36% of the company’s stock.

NASDAQ:TRMB opened at $35.66 on Friday. Trimble Inc has a 1 year low of $29.75 and a 1 year high of $45.70. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.80 and a beta of 2.24.

Trimble (NASDAQ:TRMB) last posted its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Trimble had a net margin of 5.32% and a return on equity of 16.21%. The business had revenue of $804.70 million during the quarter, compared to analyst estimates of $806.12 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that Trimble Inc will post 1.67 earnings per share for the current year.

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About Trimble

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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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