Gulf International Bank UK Ltd cut its stake in shares of Trimble Inc (NASDAQ:TRMB) by 2.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 55,878 shares of the scientific and technical instruments company’s stock after selling 1,128 shares during the period. Gulf International Bank UK Ltd’s holdings in Trimble were worth $2,257,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in TRMB. Bank of New York Mellon Corp raised its position in shares of Trimble by 24,279.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,787,337 shares of the scientific and technical instruments company’s stock valued at $164,597,000 after purchasing an additional 3,771,802 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Trimble by 4.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 415,106 shares of the scientific and technical instruments company’s stock valued at $18,041,000 after purchasing an additional 17,634 shares in the last quarter. Man Group plc acquired a new position in shares of Trimble in the 3rd quarter valued at approximately $752,000. Point72 Asset Management L.P. acquired a new position in shares of Trimble in the 3rd quarter valued at approximately $491,000. Finally, Advisors Asset Management Inc. raised its position in shares of Trimble by 14.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 30,010 shares of the scientific and technical instruments company’s stock valued at $1,304,000 after purchasing an additional 3,885 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on TRMB. Zacks Investment Research raised Trimble from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Thursday, April 11th. BidaskClub upgraded Trimble from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Finally, JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $41.00 to $40.00 in a report on Thursday, January 10th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.75.
Shares of NASDAQ TRMB opened at $40.54 on Tuesday. Trimble Inc has a twelve month low of $29.75 and a twelve month high of $44.55. The company has a quick ratio of 0.75, a current ratio of 1.03 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $10.29 billion, a PE ratio of 23.99, a PEG ratio of 2.13 and a beta of 2.18.
Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, February 6th. The scientific and technical instruments company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Trimble had a return on equity of 16.48% and a net margin of 9.10%. The business had revenue of $792.90 million during the quarter, compared to the consensus estimate of $809.82 million. During the same period in the previous year, the business earned $0.39 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Trimble Inc will post 1.84 EPS for the current year.
In other news, CEO Steven W. Berglund sold 381,675 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $37.73, for a total value of $14,400,597.75. Following the completion of the sale, the chief executive officer now directly owns 574,467 shares in the company, valued at approximately $21,674,639.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bryn Fosburgh sold 13,573 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $38.82, for a total value of $526,903.86. Following the completion of the sale, the vice president now owns 9,562 shares of the company’s stock, valued at $371,196.84. The disclosure for this sale can be found here. Insiders sold a total of 628,770 shares of company stock valued at $24,117,882 over the last quarter. Company insiders own 0.39% of the company’s stock.
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Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.
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