HB Wealth Management LLC Makes New $241,000 Investment in Trimble Inc. $TRMB

HB Wealth Management LLC bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 3,178 shares of the scientific and technical instruments company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GC Wealth Management RIA LLC acquired a new position in shares of Trimble in the 2nd quarter valued at about $460,000. Washington Capital Management Inc. acquired a new position in shares of Trimble in the 2nd quarter valued at about $387,000. V Square Quantitative Management LLC lifted its stake in shares of Trimble by 3.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 7,181 shares of the scientific and technical instruments company’s stock valued at $546,000 after purchasing an additional 210 shares during the period. Genesis Private Wealth LLC lifted its stake in shares of Trimble by 11.8% in the 2nd quarter. Genesis Private Wealth LLC now owns 3,799 shares of the scientific and technical instruments company’s stock valued at $289,000 after purchasing an additional 402 shares during the period. Finally, Patton Fund Management Inc. acquired a new position in shares of Trimble in the 2nd quarter valued at about $271,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

Trimble stock opened at $79.30 on Wednesday. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 68.36, a PEG ratio of 3.32 and a beta of 1.65. The business’s 50 day simple moving average is $81.59 and its 200 day simple moving average is $74.12. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. 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 posted its earnings results 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. The firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. Sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRMB. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a research note on Saturday, September 27th. Raymond James Financial reissued an “outperform” rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Oppenheimer boosted their target price on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Barclays set a $100.00 target price on Trimble in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $92.10.

Insider Activity

In other news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the sale, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. This represents a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company’s stock, valued at $1,680,080. This trade represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,381 shares of company stock valued at $18,474,943. Company 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.