Trimble Inc. $TRMB Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its position in shares of Trimble Inc. (NASDAQ:TRMB) by 9.2% in the third quarter, Holdings Channel reports. The fund owned 3,281,666 shares of the scientific and technical instruments company’s stock after selling 333,216 shares during the quarter. King Luther Capital Management Corp’s holdings in Trimble were worth $187,416,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TRMB. Assenagon Asset Management S.A. increased its position in shares of Trimble by 29.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 347,691 shares of the scientific and technical instruments company’s stock valued at $17,795,000 after purchasing an additional 79,069 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Trimble by 52.7% in the third quarter. Pinnacle Associates Ltd. now owns 381,026 shares of the scientific and technical instruments company’s stock worth $21,760,000 after buying an additional 131,528 shares during the last quarter. State Street Corp boosted its holdings in shares of Trimble by 7.9% in the second quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company’s stock worth $595,976,000 after buying an additional 849,549 shares during the last quarter. Norris Perne & French LLP MI boosted its holdings in shares of Trimble by 221.3% in the third quarter. Norris Perne & French LLP MI now owns 354,634 shares of the scientific and technical instruments company’s stock worth $20,253,000 after buying an additional 244,273 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Trimble by 85.0% during the second quarter. Tidal Investments LLC now owns 64,567 shares of the scientific and technical instruments company’s stock valued at $3,305,000 after buying an additional 29,657 shares during the period. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRMB. Barclays reduced their target price on shares of Trimble from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Monday. Oppenheimer dropped their price target on shares of Trimble from $80.00 to $73.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Wells Fargo & Company cut their price objective on shares of Trimble from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of Trimble from $75.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Finally, Wall Street Zen lowered Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average price target of $78.22.

Trimble Stock Up 3.2%

Shares of TRMB stock opened at $56.48 on Thursday. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of -80.68, a PEG ratio of 1.77 and a beta of 1.32. Trimble Inc. has a one year low of $47.92 and a one year high of $84.42. The company’s fifty day moving average price is $59.39 and its 200-day moving average price is $60.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.80.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates 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 4.08% and a positive return on equity of 12.73%. 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 company earned $0.81 EPS. Sell-side analysts expect that Trimble Inc. will post 3.10 EPS for the current fiscal year.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 2,476 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $65.00, for a total transaction of $160,940.00. Following the sale, the director directly owned 14,950 shares of the company’s stock, valued at $971,750. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.59% of the stock is currently owned by corporate insiders.

About Trimble

Trimble Inc. develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture. Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.