Versor Investments LP Buys New Stake in Trimble Inc. $TRMB

Versor Investments LP bought a new stake in Trimble Inc. (NASDAQ:TRMB) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,709 shares of the scientific and technical instruments company’s stock, valued at approximately $662,000.

A number of other hedge funds have also recently modified their holdings of TRMB. Nuveen LLC purchased a new position in shares of Trimble in the 1st quarter valued at $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Trimble by 26.1% in the 1st 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. grew its position in shares of Trimble by 2.0% in the 1st 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 buying an additional 582,124 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Trimble by 296.5% in the 1st 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 buying an additional 554,514 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Trimble by 85.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,112,322 shares of the scientific and technical instruments company’s stock valued at $73,024,000 after buying an additional 511,200 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Down 0.2%

TRMB stock opened at $79.57 on Tuesday. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The stock has a market capitalization of $18.94 billion, a PE ratio of 68.60, a price-to-earnings-growth ratio of 3.26 and a beta of 1.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The company has a fifty day moving average of $80.17 and a 200-day moving average of $76.59.

Trimble (NASDAQ:TRMB) last released its earnings results 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 company had revenue of $856.50 million during the quarter. As a group, analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

Insider Transactions at Trimble

In other news, VP Christopher F. Keating sold 7,365 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the sale, the vice president owned 406 shares in the company, valued at approximately $33,186.44. This trade represents a 94.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $75.65, for a total transaction of $567,375.00. Following the completion of the sale, the chief executive officer owned 92,379 shares of the company’s stock, valued at $6,988,471.35. This trade represents a 7.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 224,321 shares of company stock worth $18,677,518. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Barclays initiated coverage on shares of Trimble in a research report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $92.10.

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.