Trimble Inc. $TRMB Shares Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Trimble Inc. by 27.3%, owning 29,053 shares valued at approximately $1.91 million at the end of the last reporting period.
• Insider trading indicates significant sales, with CEO Robert G. Painter selling over 115,000 shares, resulting in a 50.20% decrease in his position.
• Trimble reported quarterly earnings of $0.71 per share, surpassing analysts' expectations, while its stock price showed a 1.4% decline recently.

1832 Asset Management L.P. boosted its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,053 shares of the scientific and technical instruments company's stock after acquiring an additional 6,229 shares during the quarter. 1832 Asset Management L.P.'s holdings in Trimble were worth $1,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horizon Investments LLC increased its stake in shares of Trimble by 5.6% in the 1st quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock worth $232,000 after purchasing an additional 188 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Trimble by 0.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 37,876 shares of the scientific and technical instruments company's stock valued at $2,676,000 after purchasing an additional 193 shares during the last quarter. CW Advisors LLC lifted its holdings in shares of Trimble by 1.9% in the 1st quarter. CW Advisors LLC now owns 11,172 shares of the scientific and technical instruments company's stock valued at $733,000 after acquiring an additional 207 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Trimble by 1.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock valued at $1,386,000 after acquiring an additional 210 shares during the last quarter. Finally, Simmons Bank lifted its holdings in shares of Trimble by 1.4% in the 1st quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock valued at $1,050,000 after acquiring an additional 214 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Insider Transactions at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the sale, the vice president directly owned 2,882 shares in the company, valued at $230,560. This represents a 52.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark David Schwartz sold 1,476 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the sale, the vice president owned 22,405 shares in the company, valued at $1,747,590. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,383 shares of company stock worth $18,529,318. 0.54% of the stock is currently owned by insiders.

Trimble Stock Performance

TRMB traded up $0.03 on Thursday, reaching $82.21. The stock had a trading volume of 957,261 shares, compared to its average volume of 1,860,270. The company has a market cap of $19.56 billion, a P/E ratio of 70.87, a price-to-earnings-growth ratio of 3.37 and a beta of 1.69. The business's 50-day moving average price is $80.81 and its two-hundred day moving average price is $72.20. The company has a current ratio of 0.94, a quick ratio of 0.81 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 - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRMB shares. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reissued an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $90.50.

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.