Trimble Inc. $TRMB Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in Trimble Inc. (NASDAQ:TRMB) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,603 shares of the scientific and technical instruments company’s stock after buying an additional 1,470 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Trimble were worth $2,629,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in Trimble during the 1st quarter valued at approximately $122,070,000. Generation Investment Management LLP increased its position in Trimble by 19.1% in the second quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock worth $685,314,000 after buying an additional 1,449,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Trimble by 26.1% in 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 valued at $458,113,000 after buying an additional 1,445,851 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock valued at $1,988,450,000 after acquiring an additional 582,124 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Trimble by 296.5% during the first quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company’s stock valued at $48,680,000 after acquiring an additional 554,514 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $75.42 on Wednesday. The company has a market cap of $17.94 billion, a P/E ratio of 65.02, a price-to-earnings-growth ratio of 3.26 and a beta of 1.66. The company’s fifty day moving average is $79.72 and its two-hundred day moving average is $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 12-month low of $52.91 and a 12-month high of $87.50.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRMB shares. Barclays initiated coverage on shares of Trimble in a research note on Tuesday, October 7th. They set an “overweight” rating and a $100.00 target price for the company. Zacks Research raised Trimble from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their target price on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Piper Sandler reissued an “overweight” rating and issued a $97.00 price target on shares of Trimble in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $94.18.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of Trimble stock in a transaction that occurred 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 of the company’s stock, valued at $1,228,770. The trade was a 10.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the sale, the vice president directly owned 406 shares of the company’s stock, valued at approximately $33,186.44. This trade represents a 94.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 24,692 shares of company stock worth $1,954,986. Insiders own 0.54% of the company’s stock.

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.