Intech Investment Management LLC Increases Stock Position in Trimble Inc. $TRMB

Intech Investment Management LLC raised its position in Trimble Inc. (NASDAQ:TRMB) by 43.0% in the second quarter, Holdings Channel reports. The institutional investor owned 7,353 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,210 shares during the period. Intech Investment Management LLC’s holdings in Trimble were worth $559,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Trimble during the 2nd quarter valued at about $34,000. Ameritas Advisory Services LLC purchased a new position in Trimble during the second quarter worth approximately $48,000. Flaharty Asset Management LLC acquired a new stake in Trimble in the first quarter valued at approximately $45,000. Steph & Co. increased its position in shares of Trimble by 592.0% in the second quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after buying an additional 592 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Trimble during the 1st quarter worth approximately $58,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $81.42 on Friday. The firm has a 50-day simple moving average of $79.36 and a 200-day simple moving average of $78.50. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 70.19, a price-to-earnings-growth ratio of 3.26 and a beta of 1.66. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. The firm had revenue of $856.50 million for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. On average, equities analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.50, for a total transaction of $596,250.00. Following the transaction, the chief executive officer owned 84,879 shares in the company, valued at approximately $6,747,880.50. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kaigham Gabriel sold 1,718 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the transaction, the director directly owned 15,170 shares in the company, valued at $1,228,770. This trade represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 24,083 shares of company stock valued at $1,904,798. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TRMB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price objective on shares of Trimble in a report on Friday, November 7th. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the stock a “buy” rating in a research note on Friday, October 3rd. Zacks Research upgraded shares of Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Finally, Wells Fargo & Company assumed coverage on Trimble in a report on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Trimble presently has an average rating of “Buy” and an average target price of $94.18.

Trimble Company Profile

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 project design and visualization; 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.