IFM Investors Pty Ltd Raises Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

IFM Investors Pty Ltd increased its stake in shares of Trimble Inc. (NASDAQ:TRMBGet Rating) by 14.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,111 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,953 shares during the quarter. IFM Investors Pty Ltd’s holdings in Trimble were worth $2,749,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TRMB. Janney Montgomery Scott LLC lifted its stake in shares of Trimble by 8.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,374 shares of the scientific and technical instruments company’s stock worth $294,000 after purchasing an additional 275 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Trimble in the fourth quarter valued at about $1,703,000. Commonwealth Equity Services LLC raised its stake in Trimble by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 22,799 shares of the scientific and technical instruments company’s stock valued at $1,987,000 after buying an additional 900 shares during the last quarter. Yousif Capital Management LLC acquired a new position in shares of Trimble in the fourth quarter valued at about $3,208,000. Finally, CWM LLC acquired a new position in shares of Trimble in the fourth quarter valued at about $67,000. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Down 3.1 %

Shares of NASDAQ TRMB opened at $68.10 on Friday. Trimble Inc. has a 1 year low of $55.35 and a 1 year high of $96.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.26 and a quick ratio of 0.93. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.57. The business has a 50-day moving average of $62.57 and a two-hundred day moving average of $66.47.

Trimble (NASDAQ:TRMBGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. Trimble had a return on equity of 15.20% and a net margin of 12.97%. The firm had revenue of $993.70 million for the quarter, compared to analysts’ expectations of $967.25 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts forecast that Trimble Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TRMB has been the topic of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Trimble in a report on Thursday, May 5th. Morgan Stanley upgraded Trimble from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $70.00 to $67.00 in a research report on Monday, May 23rd. JPMorgan Chase & Co. decreased their target price on Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Finally, Robert W. Baird reduced their price objective on Trimble from $90.00 to $80.00 in a research report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $80.80.

Insiders Place Their Bets

In other news, Director Thomas W. Sweet purchased 600 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average price of $64.25 per share, for a total transaction of $38,550.00. Following the acquisition, the director now directly owns 3,682 shares in the company, valued at approximately $236,568.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Trimble news, Director Thomas W. Sweet purchased 600 shares of Trimble stock in a transaction on Friday, May 20th. The shares were bought at an average price of $64.25 per share, with a total value of $38,550.00. Following the purchase, the director now directly owns 3,682 shares in the company, valued at approximately $236,568.50. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas W. Sweet bought 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of $62.28 per share, for a total transaction of $93,420.00. Following the completion of the transaction, the director now directly owns 3,082 shares in the company, valued at approximately $191,946.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,300 shares of company stock worth $144,364. Company insiders own 0.43% of the company’s stock.

Trimble Company Profile

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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 route selection and design; 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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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