Trimble Inc. $TRMB Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in Trimble Inc. (NASDAQ:TRMB) by 456.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,306 shares during the period. International Assets Investment Management LLC’s holdings in Trimble were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRMB. Assenagon Asset Management S.A. grew its holdings in shares of Trimble by 29.4% during the second quarter. Assenagon Asset Management S.A. now owns 347,691 shares of the scientific and technical instruments company’s stock worth $17,795,000 after purchasing an additional 79,069 shares during the last quarter. State Street Corp boosted its position in shares of Trimble by 7.9% during the 2nd quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company’s stock valued at $595,976,000 after purchasing an additional 849,549 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Trimble by 52.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 381,026 shares of the scientific and technical instruments company’s stock valued at $21,760,000 after acquiring an additional 131,528 shares during the period. Norris Perne & French LLP MI grew its holdings in Trimble by 221.3% in the third quarter. Norris Perne & French LLP MI now owns 354,634 shares of the scientific and technical instruments company’s stock worth $20,253,000 after purchasing an additional 244,273 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Trimble by 85.0% in the second quarter. Tidal Investments LLC now owns 64,567 shares of the scientific and technical instruments company’s stock worth $3,305,000 after acquiring an additional 29,657 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Insider Activity

In other news, Director Kaigham Gabriel sold 2,476 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $65.00, for a total transaction of $160,940.00. Following the completion of the transaction, the director directly owned 14,950 shares of the company’s stock, valued at approximately $971,750. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

TRMB has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price on shares of Trimble in a research report on Thursday, August 13th. Raymond James Financial downgraded shares of Trimble from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on shares of Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Sanford C. Bernstein lowered their price target on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Finally, Barclays upped their price objective on Trimble from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.56.

Trimble Price Performance

Shares of Trimble stock opened at $54.25 on Thursday. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of -110.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a fifty day moving average of $59.94 and a 200-day moving average of $60.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.95. Trimble Inc. has a 52-week low of $47.92 and a 52-week high of $84.42.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, meeting the consensus estimate of $0.86. Trimble had a positive return on equity of 12.29% and a negative net margin of 2.77%. The firm had revenue of $966.80 million during the quarter, compared to the consensus estimate of $966.41 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Trimble Inc. will post 3.10 EPS for the current year.

Key Stories Impacting Trimble

Here are the key news stories impacting Trimble this week:

• Positive Sentiment: Trimble reported Q3 revenue of about $967 million, up 7.3% year over year, and adjusted EPS of $0.86, matching analysts’ estimates. The company also reported record annualized recurring revenue of $2.564 billion. Trimble Q3 results and guidance
• Neutral Sentiment: Management’s earnings call highlighted continued growth and progress on its Connect & Scale strategy, while acknowledging market headwinds. Earnings call highlights
• Negative Sentiment: The company lowered its growth outlook as the European freight market slowed. That guidance revision appears to have outweighed the modest revenue beat and recurring-revenue progress, prompting the sharp share-price decline. European freight slowdown and outlook

Trimble Company Profile

Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.

The company’s products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.