Acadian Asset Management LLC increased its position in shares of Trimble Inc (NASDAQ:TRMB) by 94.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,336 shares of the scientific and technical instruments company’s stock after purchasing an additional 21,065 shares during the quarter. Acadian Asset Management LLC’s holdings in Trimble were worth $1,762,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital International Investors grew its holdings in shares of Trimble by 8.6% during the 2nd quarter. Capital International Investors now owns 8,029,625 shares of the scientific and technical instruments company’s stock worth $286,417,000 after purchasing an additional 639,190 shares during the period. First Quadrant L P CA grew its holdings in shares of Trimble by 9,319.3% during the 3rd quarter. First Quadrant L P CA now owns 609,052 shares of the scientific and technical instruments company’s stock worth $23,905,000 after purchasing an additional 602,586 shares during the period. KAMES CAPITAL plc lifted its stake in Trimble by 238.9% during the 4th quarter. KAMES CAPITAL plc now owns 763,144 shares of the scientific and technical instruments company’s stock worth $31,014,000 after acquiring an additional 537,988 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Trimble by 405.7% during the 2nd quarter. Renaissance Technologies LLC now owns 633,844 shares of the scientific and technical instruments company’s stock worth $22,609,000 after acquiring an additional 508,500 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its stake in Trimble by 176.1% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 745,367 shares of the scientific and technical instruments company’s stock worth $29,256,000 after acquiring an additional 475,414 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.
In related news, CEO Steven W. Berglund sold 200,000 shares of Trimble 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sachin Sankpal sold 6,512 shares of Trimble stock in a transaction on Friday, November 24th. The stock was sold at an average price of $41.99, for a total value of $273,438.88. Following the transaction, the senior vice president now directly owns 17,997 shares of the company’s stock, valued at $755,694.03. The disclosure for this sale can be found here. Insiders sold a total of 424,453 shares of company stock valued at $16,773,566 over the last three months. Insiders own 1.40% of the company’s stock.
Several equities analysts recently issued reports on TRMB shares. BidaskClub lowered Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Oppenheimer increased their price target on Trimble from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research raised Trimble from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Wells Fargo & Co increased their price target on Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Finally, TheStreet lowered Trimble from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.10.
Shares of Trimble Inc (NASDAQ TRMB) traded down $0.68 during mid-day trading on Wednesday, hitting $38.28. The company’s stock had a trading volume of 2,828,695 shares, compared to its average volume of 1,070,000. Trimble Inc has a one year low of $30.45 and a one year high of $45.70. The stock has a market cap of $9,530.00, a P/E ratio of 47.26, a P/E/G ratio of 2.34 and a beta of 2.38. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.33.
Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $708.40 million during the quarter, compared to analysts’ expectations of $674.84 million. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. research analysts expect that Trimble Inc will post 1.5 EPS for the current year.
Trimble declared that its board has authorized a share buyback program on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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