Putnam Investments LLC Raises Stake in Trimble Inc. (NASDAQ:TRMB)

Putnam Investments LLC boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 5.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 173,817 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,535 shares during the period. Putnam Investments LLC owned approximately 0.07% of Trimble worth $9,111,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. United Capital Financial Advisers LLC grew its position in Trimble by 0.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 69,939 shares of the scientific and technical instruments company’s stock worth $5,045,000 after purchasing an additional 186 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Trimble by 39.6% in the first quarter. Ronald Blue Trust Inc. now owns 762 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 216 shares in the last quarter. Advisor Partners II LLC boosted its holdings in shares of Trimble by 2.8% in the first quarter. Advisor Partners II LLC now owns 7,961 shares of the scientific and technical instruments company’s stock valued at $417,000 after acquiring an additional 218 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Trimble by 1.1% in the first quarter. Mercer Global Advisors Inc. ADV now owns 20,480 shares of the scientific and technical instruments company’s stock valued at $1,074,000 after acquiring an additional 232 shares in the last quarter. Finally, Clear Street Markets LLC boosted its holdings in shares of Trimble by 93.2% in the first quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 234 shares in the last quarter. 90.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $50.34, for a total value of $125,850.00. Following the completion of the sale, the chief executive officer now directly owns 209,856 shares in the company, valued at $10,564,151.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $50.34, for a total value of $125,850.00. Following the completion of the sale, the chief executive officer now directly owns 209,856 shares in the company, valued at $10,564,151.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Peter Large sold 1,020 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $53.00, for a total transaction of $54,060.00. Following the completion of the sale, the senior vice president now owns 2,076 shares of the company’s stock, valued at $110,028. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,040 shares of company stock worth $531,470. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $51.00 target price on shares of Trimble in a report on Friday, August 4th. StockNews.com initiated coverage on shares of Trimble in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Trimble from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.71.

Trimble Stock Performance

NASDAQ:TRMB opened at $51.34 on Friday. The firm has a 50 day simple moving average of $53.44 and a 200-day simple moving average of $50.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.12 and a quick ratio of 0.84. The firm has a market cap of $12.75 billion, a PE ratio of 37.20, a P/E/G ratio of 2.41 and a beta of 1.55. Trimble Inc. has a 1-year low of $45.43 and a 1-year high of $62.40.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $993.60 million during the quarter, compared to analyst estimates of $979.08 million. Trimble had a net margin of 9.45% and a return on equity of 13.12%. On average, equities analysts expect that Trimble Inc. will post 2.14 EPS for the current year.

Trimble Profile

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.