Penserra Capital Management LLC Purchases 26,238 Shares of Trimble Inc. $TRMB

Penserra Capital Management LLC lifted its position in shares of Trimble Inc. (NASDAQ:TRMB) by 56.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,710 shares of the scientific and technical instruments company’s stock after purchasing an additional 26,238 shares during the period. Penserra Capital Management LLC’s holdings in Trimble were worth $5,935,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in Trimble by 2.6% in the second quarter. State Street Corp now owns 10,908,124 shares of the scientific and technical instruments company’s stock valued at $828,799,000 after buying an additional 273,320 shares during the period. Generation Investment Management LLP increased its holdings in shares of Trimble by 19.1% during the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock worth $685,314,000 after acquiring an additional 1,449,315 shares during the last quarter. Boston Partners raised its stake in Trimble by 14.4% in the 2nd quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock valued at $318,285,000 after acquiring an additional 525,214 shares during the period. Invesco Ltd. lifted its holdings in Trimble by 6.5% during the 2nd quarter. Invesco Ltd. now owns 4,089,301 shares of the scientific and technical instruments company’s stock valued at $310,705,000 after purchasing an additional 248,751 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Trimble during the third quarter worth $289,254,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $80.88, for a total value of $606,600.00. Following the transaction, the chief executive officer owned 34,397 shares in the company, valued at approximately $2,782,029.36. This trade represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Phillip Sawarynski sold 2,250 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total value of $181,012.50. Following the completion of the transaction, the chief financial officer directly owned 25,684 shares of the company’s stock, valued at approximately $2,066,277.80. This trade represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 25,366 shares of company stock valued at $2,044,793. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TRMB. Wells Fargo & Company assumed coverage on shares of Trimble in a research note on Thursday, November 13th. They set an “overweight” rating and a $94.00 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $97.00 price target on shares of Trimble in a report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, January 21st. Barclays upped their target price on Trimble from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Finally, KeyCorp upgraded Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $96.78.

Trimble Stock Down 1.6%

Shares of TRMB opened at $63.98 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The firm’s 50 day moving average is $77.19 and its 200-day moving average is $79.46. The stock has a market capitalization of $15.22 billion, a PE ratio of 43.82, a P/E/G ratio of 2.27 and a beta of 1.59.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. The business had revenue of $901.20 million for the quarter, compared to the consensus estimate of $870.30 million. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 earnings per share. Equities research analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Trimble declared that its Board of Directors has initiated a share repurchase plan on Friday, December 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.