State of Alaska Department of Revenue Sells 2,025 Shares of Trimble Inc. $TRMB

State of Alaska Department of Revenue lowered its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 7.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,765 shares of the scientific and technical instruments company’s stock after selling 2,025 shares during the period. State of Alaska Department of Revenue’s holdings in Trimble were worth $2,033,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock valued at $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Trimble by 26.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock worth $458,113,000 after buying an additional 1,445,851 shares during the period. Invesco Ltd. increased its position in shares of Trimble by 9.7% during the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company’s stock worth $252,132,000 after buying an additional 339,750 shares during the period. Boston Partners increased its position in shares of Trimble by 7.9% during the first quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company’s stock worth $237,884,000 after buying an additional 267,829 shares during the period. Finally, Northern Trust Corp increased its position in shares of Trimble by 19.8% during the first quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company’s stock worth $202,526,000 after buying an additional 510,509 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 1.0%

Trimble stock opened at $80.21 on Friday. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 69.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.65. The firm’s fifty day moving average price is $81.88 and its two-hundred day moving average price is $73.90. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period last year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Trimble

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares of the company’s stock, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Calvin Dalton sold 609 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares in the company, valued at $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 228,881 shares of company stock valued at $19,066,393. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Raymond James Financial reiterated an “outperform” rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Finally, Oppenheimer increased their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $90.75.

About Trimble

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.