Prudential PLC Has $6.53 Million Stock Holdings in Trimble Inc. $TRMB

Prudential PLC increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,888 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,726 shares during the period. Prudential PLC’s holdings in Trimble were worth $6,526,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock worth $1,988,450,000 after buying an additional 582,124 shares in the last quarter. Generation Investment Management LLP lifted its position in shares of Trimble by 19.1% during the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock valued at $685,314,000 after acquiring an additional 1,449,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Trimble by 26.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock worth $458,113,000 after acquiring an additional 1,445,851 shares in the last quarter. Boston Partners boosted its stake in Trimble by 14.2% during the second quarter. Boston Partners now owns 4,161,427 shares of the scientific and technical instruments company’s stock worth $317,620,000 after acquiring an additional 516,462 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Trimble by 9.7% in the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company’s stock worth $252,132,000 after purchasing an additional 339,750 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Performance

NASDAQ TRMB opened at $77.03 on Friday. The company has a fifty day moving average price of $79.40 and a 200-day moving average price of $78.03. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 3.26 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Trimble in a report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Berenberg Bank set a $95.00 price target on Trimble and gave the stock a “buy” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. increased their price target on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $94.18.

Insiders Place Their Bets

In related news, Director Kaigham Gabriel sold 1,718 shares of Trimble stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total transaction of $139,158.00. Following the sale, the director directly owned 15,170 shares in the company, valued at approximately $1,228,770. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 7,500 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $79.50, for a total value of $596,250.00. Following the completion of the transaction, the chief executive officer directly owned 84,879 shares in the company, valued at approximately $6,747,880.50. This represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,692 shares of company stock worth $1,954,986 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

About Trimble

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.