5,061 Shares in Trimble Inc. $TRMB Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association has acquired 5,061 shares of Trimble Inc., valued at approximately $332,000, marking a new position for the institutional investor in the first quarter.
• Several institutional investors, including Nuveen LLC and Raymond James Financial Inc., have significantly increased their stakes in Trimble, leading to institutional investors owning approximately 93.21% of the company's stock.
• Wall Street analysts have a positive outlook on Trimble, with a consensus rating of "Buy" and a projected average target price of $90.50, following recent upgrades from multiple firms.

United Services Automobile Association acquired a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,061 shares of the scientific and technical instruments company's stock, valued at approximately $332,000.

Several other institutional investors have also bought and sold shares of TRMB. Nuveen LLC acquired a new stake in Trimble in the first quarter worth about $122,070,000. Select Equity Group L.P. lifted its holdings in Trimble by 22.4% in the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after purchasing an additional 1,857,517 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Trimble by 338.8% in the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock worth $53,564,000 after purchasing an additional 629,960 shares during the period. Vanguard Group Inc. lifted its holdings in Trimble by 2.0% in the first 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 purchasing an additional 582,124 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in Trimble by 296.5% in the first quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company's stock worth $48,680,000 after purchasing an additional 554,514 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TRMB shares. Oppenheimer boosted their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $93.00 price target (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $90.50.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the sale, the vice president owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the transaction, the vice president owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,992 shares of company stock worth $18,579,506 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Trimble Price Performance

NASDAQ TRMB opened at $80.88 on Friday. The stock's 50-day moving average price is $81.88 and its two-hundred day moving average price is $72.73. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market cap of $19.25 billion, a PE ratio of 69.72, a PEG ratio of 3.40 and a beta of 1.66. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Trimble 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.

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