IFM Investors Pty Ltd Grows Holdings in Trimble Inc. $TRMB

IFM Investors Pty Ltd increased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,912 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,808 shares during the quarter. IFM Investors Pty Ltd’s holdings in Trimble were worth $3,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its stake in Trimble by 174.9% in the first 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 last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Trimble during the 1st quarter valued at approximately $45,000. Putney Financial Group LLC purchased a new stake in Trimble in the 4th quarter worth approximately $51,000. State of Wyoming purchased a new stake in Trimble in the 1st quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC lifted its stake in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 591 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In other news, VP Mark David Schwartz sold 1,404 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares of the company’s stock, valued at approximately $1,680,080. This trade represents a 6.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 114,879 shares of the company’s stock, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,357 shares of company stock worth $19,181,521. 0.54% of the stock is owned by corporate insiders.

Trimble Price Performance

Shares of Trimble stock opened at $82.15 on Tuesday. The firm has a market cap of $19.55 billion, a PE ratio of 70.82, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $82.07 and its two-hundred day simple moving average is $73.26.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRMB. Raymond James Financial reiterated an “outperform” rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Oppenheimer increased their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, Trimble currently has a consensus rating of “Buy” and an average target price of $90.75.

Trimble Company 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.