AlphaCrest Capital Management LLC Buys New Stake in Trimble Inc. (NASDAQ:TRMB)

AlphaCrest Capital Management LLC bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 5,974 shares of the scientific and technical instruments company’s stock, valued at approximately $489,000.

A number of other institutional investors also recently modified their holdings of TRMB. CoreFirst Bank & Trust acquired a new position in Trimble during the first quarter valued at $26,000. RE Advisers Corp acquired a new position in shares of Trimble in the 2nd quarter valued at about $30,000. CSat Investment Advisory L.P. acquired a new position in shares of Trimble in the 1st quarter valued at about $47,000. Barrett Asset Management LLC acquired a new position in shares of Trimble in the 1st quarter valued at about $68,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of Trimble in the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 90.08% of the company’s stock.

Separately, Morgan Stanley cut Trimble from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $80.00 to $74.00 in a report on Thursday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Trimble presently has an average rating of “Hold” and a consensus price target of $69.20.

In other news, CEO Robert G. Painter sold 47,660 shares of the company’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $87.61, for a total value of $4,175,492.60. Following the completion of the sale, the chief executive officer now directly owns 90,641 shares in the company, valued at $7,941,058.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Berglund sold 54,500 shares of the company’s stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $93.65, for a total value of $5,103,925.00. Following the completion of the sale, the director now owns 84,195 shares of the company’s stock, valued at $7,884,861.75. The disclosure for this sale can be found here. Insiders have sold 323,510 shares of company stock valued at $29,236,572 in the last three months. Insiders own 0.48% of the company’s stock.

Shares of Trimble stock opened at $81.09 on Thursday. The business has a 50 day simple moving average of $89.22 and a two-hundred day simple moving average of $83.43. Trimble Inc. has a 12 month low of $47.19 and a 12 month high of $96.49. The stock has a market capitalization of $20.40 billion, a P/E ratio of 39.56, a PEG ratio of 4.32 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.28 and a quick ratio of 1.02.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, August 4th. The scientific and technical instruments company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.12. Trimble had a return on equity of 15.69% and a net margin of 15.01%. The business had revenue of $945.30 million during the quarter, compared to analysts’ expectations of $870.23 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. As a group, research analysts anticipate that Trimble Inc. will post 2.17 EPS for the current fiscal year.

About Trimble

Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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