JPMorgan Chase & Co. lowered its stake in shares of Trimble Inc (NASDAQ:TRMB) by 31.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 397,167 shares of the scientific and technical instruments company’s stock after selling 186,363 shares during the quarter. JPMorgan Chase & Co.’s holdings in Trimble were worth $17,261,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in TRMB. IFM Investors Pty Ltd raised its holdings in shares of Trimble by 11.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 14,130 shares of the scientific and technical instruments company’s stock worth $614,000 after acquiring an additional 1,498 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Trimble by 1,228.4% in the 3rd quarter. Penserra Capital Management LLC now owns 9,724 shares of the scientific and technical instruments company’s stock worth $348,000 after acquiring an additional 8,992 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Trimble by 10.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,264,665 shares of the scientific and technical instruments company’s stock worth $141,883,000 after acquiring an additional 313,190 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Trimble by 16.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,352,776 shares of the scientific and technical instruments company’s stock worth $58,792,000 after acquiring an additional 188,901 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd acquired a new stake in shares of Trimble in the 3rd quarter worth about $241,000. Hedge funds and other institutional investors own 92.22% of the company’s stock.
In other Trimble news, CFO Robert G. Painter sold 1,800 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $35.43, for a total value of $63,774.00. Following the completion of the sale, the chief financial officer now directly owns 22,114 shares of the company’s stock, valued at approximately $783,499.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James A. Kirkland sold 14,292 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $39.37, for a total transaction of $562,676.04. Following the completion of the sale, the insider now directly owns 51,436 shares of the company’s stock, valued at $2,025,035.32. The disclosure for this sale can be found here. Insiders sold a total of 18,492 shares of company stock valued at $715,754 over the last ninety days. 0.36% of the stock is currently owned by insiders.
Shares of TRMB stock opened at $38.61 on Tuesday. Trimble Inc has a 52-week low of $29.75 and a 52-week high of $44.55. The company has a quick ratio of 0.75, a current ratio of 1.03 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.97 and a beta of 2.23.
Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, February 6th. The scientific and technical instruments company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Trimble had a net margin of 9.10% and a return on equity of 16.48%. The business had revenue of $792.90 million during the quarter, compared to the consensus estimate of $809.82 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Trimble Inc will post 1.85 EPS for the current year.
TRMB has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Trimble from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, December 10th. Robert W. Baird upped their target price on shares of Trimble from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. Finally, BidaskClub upgraded shares of Trimble from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Trimble has a consensus rating of “Hold” and an average price target of $41.00.
Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.
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