Wedmont Private Capital Buys New Stake in Trimble Inc. $TRMB

Wedmont Private Capital bought a new stake in Trimble Inc. (NASDAQ:TRMB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,915 shares of the scientific and technical instruments company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRMB. Central Pacific Bank Trust Division boosted its holdings in Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 355 shares during the period. Flaharty Asset Management LLC purchased a new stake in shares of Trimble during the 1st quarter worth $45,000. Putney Financial Group LLC purchased a new stake in shares of Trimble during the fourth quarter valued at about $51,000. State of Wyoming purchased a new stake in shares of Trimble during the 1st quarter valued at $58,000. Finally, Farther Finance Advisors LLC raised its stake in Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRMB shares. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. increased their price objective on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James Financial reissued an “outperform” rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Oppenheimer lifted their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $90.75.

Trimble Stock Performance

Shares of TRMB stock opened at $82.78 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The firm has a market cap of $19.70 billion, a P/E ratio of 71.36, a PEG ratio of 3.40 and a beta of 1.66. The stock’s 50-day moving average is $82.03 and its two-hundred day moving average is $73.17. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. During the same quarter last year, the company posted $0.62 earnings per share. Trimble’s quarterly revenue was up .6% on a year-over-year basis. Analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the sale, the vice president directly owned 2,882 shares in the company, valued at $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,992 shares of company stock valued at $18,579,506. Corporate insiders own 0.54% of the company’s stock.

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 project design and visualization; 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.