Russell Investments Group Ltd. lifted its holdings in Trimble Inc. (NASDAQ:TRMB – Get Rating) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,081 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,838 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Trimble worth $12,358,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Trimble by 10.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the scientific and technical instruments company’s stock worth $163,000 after acquiring an additional 175 shares in the last quarter. RE Advisers Corp increased its stake in shares of Trimble by 31.1% during the fourth quarter. RE Advisers Corp now owns 742 shares of the scientific and technical instruments company’s stock worth $65,000 after purchasing an additional 176 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Trimble by 6.2% during the 1st quarter. Park Avenue Securities LLC now owns 3,137 shares of the scientific and technical instruments company’s stock worth $226,000 after purchasing an additional 182 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Trimble by 11.7% in the 4th quarter. Fifth Third Bancorp now owns 2,009 shares of the scientific and technical instruments company’s stock worth $175,000 after buying an additional 210 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Trimble by 6.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,007 shares of the scientific and technical instruments company’s stock worth $349,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 91.47% of the company’s stock.
Insiders Place Their Bets
In other Trimble news, Director Thomas W. Sweet purchased 600 shares of the stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $64.25 per share, for a total transaction of $38,550.00. Following the acquisition, the director now owns 3,682 shares in the company, valued at approximately $236,568.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Thomas W. Sweet acquired 1,500 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were purchased at an average cost of $62.28 per share, for a total transaction of $93,420.00. Following the acquisition, the director now owns 3,082 shares in the company, valued at approximately $191,946.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas W. Sweet bought 600 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average price of $64.25 per share, with a total value of $38,550.00. Following the acquisition, the director now directly owns 3,682 shares in the company, valued at approximately $236,568.50. The disclosure for this purchase can be found here. Insiders acquired a total of 2,300 shares of company stock valued at $144,364 over the last quarter. 0.43% of the stock is owned by insiders.
Trimble Trading Down 3.1 %
Trimble (NASDAQ:TRMB – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Trimble had a net margin of 12.97% and a return on equity of 15.20%. The business had revenue of $993.70 million during the quarter, compared to the consensus estimate of $967.25 million. During the same quarter last year, the firm earned $0.58 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Trimble Inc. will post 2.4 EPS for the current year.
Wall Street Analysts Forecast Growth
TRMB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Morgan Stanley upgraded shares of Trimble from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $70.00 to $67.00 in a research report on Monday, May 23rd. William Blair reissued an “outperform” rating on shares of Trimble in a research note on Thursday, May 5th. Finally, Robert W. Baird dropped their price objective on shares of Trimble from $90.00 to $80.00 in a research note on Friday, May 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and an average target price of $80.80.
Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.
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