25,700 Shares in Trimble Inc. $TRMB Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Trimble Inc. (NASDAQ:TRMB) during the third quarter, Holdings Channel.com reports. The firm bought 25,700 shares of the scientific and technical instruments company’s stock, valued at approximately $1,468,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its holdings in shares of Trimble by 32.4% during the third quarter. SBI Securities Co. Ltd. now owns 814 shares of the scientific and technical instruments company’s stock worth $46,000 after buying an additional 199 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of Trimble by 5.2% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 4,127 shares of the scientific and technical instruments company’s stock valued at $269,000 after acquiring an additional 203 shares in the last quarter. State of Wyoming boosted its holdings in shares of Trimble by 14.5% during the 1st quarter. State of Wyoming now owns 1,899 shares of the scientific and technical instruments company’s stock valued at $124,000 after acquiring an additional 240 shares in the last quarter. Brookstone Capital Management grew its position in Trimble by 6.2% during the 3rd quarter. Brookstone Capital Management now owns 4,236 shares of the scientific and technical instruments company’s stock worth $242,000 after acquiring an additional 248 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Trimble by 1.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,339 shares of the scientific and technical instruments company’s stock worth $1,522,000 after acquiring an additional 268 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 2,476 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $65.00, for a total value of $160,940.00. Following the sale, the director owned 14,950 shares in the company, valued at approximately $971,750. The trade was a 14.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.59% of the company’s stock.

Trimble Price Performance

TRMB stock opened at $54.25 on Thursday. The company has a market capitalization of $12.65 billion, a P/E ratio of -110.71, a PEG ratio of 2.12 and a beta of 1.32. The company has a fifty day moving average price of $59.94 and a 200-day moving average price of $60.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.95. Trimble Inc. has a 52-week low of $47.92 and a 52-week high of $84.42.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, hitting the consensus estimate of $0.86. The company had revenue of $966.80 million for the quarter, compared to analysts’ expectations of $966.41 million. Trimble had a negative net margin of 2.77% and a positive return on equity of 12.29%. Trimble’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, equities analysts expect that Trimble Inc. will post 3.10 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRMB. Wall Street Zen raised Trimble from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Barclays lifted their price target on Trimble from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Loop Capital began coverage on Trimble in a report on Monday, October 26th. They set a “buy” rating and a $76.00 price target on the stock. Sanford C. Bernstein reduced their price target on Trimble from $85.00 to $73.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Trimble from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average price target of $79.56.

Trending Headlines about Trimble

Here are the key news stories impacting Trimble this week:

• Positive Sentiment: Trimble reported Q3 revenue of about $967 million, up 7.3% year over year, and adjusted EPS of $0.86, matching analysts’ estimates. The company also reported record annualized recurring revenue of $2.564 billion. Trimble Q3 results and guidance
• Neutral Sentiment: Management’s earnings call highlighted continued growth and progress on its Connect & Scale strategy, while acknowledging market headwinds. Earnings call highlights
• Negative Sentiment: The company lowered its growth outlook as the European freight market slowed. That guidance revision appears to have outweighed the modest revenue beat and recurring-revenue progress, prompting the sharp share-price decline. European freight slowdown and outlook

About Trimble

Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.

The company’s products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.