Primecap Management Co. CA Sells 77,765 Shares of Trimble Inc. $TRMB

Primecap Management Co. CA decreased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,232,541 shares of the scientific and technical instruments company’s stock after selling 77,765 shares during the quarter. Primecap Management Co. CA owned approximately 1.78% of Trimble worth $321,588,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TRMB. Catalyst Capital Advisors LLC bought a new stake in shares of Trimble during the second quarter valued at approximately $34,000. Ameritas Advisory Services LLC purchased a new position in Trimble during the 2nd quarter worth $48,000. Flaharty Asset Management LLC purchased a new position in Trimble during the 1st quarter worth $45,000. Steph & Co. raised its position in Trimble by 592.0% during the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after purchasing an additional 592 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Trimble in the 1st quarter worth $58,000. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

Shares of TRMB opened at $75.42 on Wednesday. The company has a 50 day moving average of $79.72 and a two-hundred day moving average of $77.97. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 65.02, a price-to-earnings-growth ratio of 3.26 and a beta of 1.66.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRMB. Berenberg Bank set a $95.00 price target on Trimble and gave the company 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 report on Tuesday, November 11th. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Finally, Piper Sandler restated an “overweight” rating and set a $97.00 target price on shares of Trimble in a report on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $94.18.

Insiders Place Their Bets

In other Trimble news, Director James Calvin Dalton sold 609 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the transaction, the director owned 13,809 shares in the company, valued at approximately $1,137,999.69. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction 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 sale, the chief executive officer owned 84,879 shares of the company’s stock, valued at $6,747,880.50. The trade was a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,692 shares of company stock worth $1,954,986 over the last ninety days. Insiders own 0.54% of the company’s stock.

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.