Louisiana State Employees Retirement System boosted its stake in shares of Trimble Inc (NASDAQ:TRMB) by 1.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,400 shares of the scientific and technical instruments company’s stock after purchasing an additional 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Trimble were worth $2,723,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in TRMB. Bank of New York Mellon Corp grew its position in Trimble by 24,279.4% in the third quarter. Bank of New York Mellon Corp now owns 3,787,337 shares of the scientific and technical instruments company’s stock worth $164,597,000 after acquiring an additional 3,771,802 shares in the last quarter. Capital World Investors acquired a new position in shares of Trimble in the 3rd quarter valued at $65,199,000. The Manufacturers Life Insurance Company raised its stake in shares of Trimble by 4.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 415,106 shares of the scientific and technical instruments company’s stock valued at $18,041,000 after buying an additional 17,634 shares in the last quarter. Veritable L.P. raised its stake in shares of Trimble by 46.3% in the 3rd quarter. Veritable L.P. now owns 13,222 shares of the scientific and technical instruments company’s stock valued at $575,000 after buying an additional 4,185 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of Trimble in the 3rd quarter valued at $752,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:TRMB traded down $0.38 during mid-day trading on Monday, reaching $40.61. 3,068 shares of the company were exchanged, compared to its average volume of 996,493. Trimble Inc has a 12 month low of $29.75 and a 12 month high of $44.55. The company has a quick ratio of 0.75, a current ratio of 1.03 and a debt-to-equity ratio of 0.64. The firm has a market cap of $10.34 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.11 and a beta of 2.18.
Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, February 6th. The scientific and technical instruments company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Trimble had a net margin of 9.10% and a return on equity of 16.48%. The company had revenue of $792.90 million for the quarter, compared to the consensus estimate of $809.82 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Trimble Inc will post 1.84 earnings per share for the current fiscal year.
In other Trimble news, insider Rosalind D. Buick sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.50, for a total transaction of $405,000.00. Following the transaction, the insider now directly owns 12,055 shares in the company, valued at approximately $488,227.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert G. Painter sold 1,717 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $41.00, for a total transaction of $70,397.00. Following the transaction, the chief financial officer now owns 33,243 shares in the company, valued at $1,362,963. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 628,770 shares of company stock worth $24,117,882. Corporate insiders own 0.39% of the company’s stock.
A number of equities analysts have recently issued reports on TRMB shares. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $41.00 to $40.00 in a research note on Thursday, January 10th. BidaskClub raised shares of Trimble from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Finally, Zacks Investment Research lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $43.00.
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; and integrated workplace management services software.
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