Trimble Inc. $TRMB Shares Acquired by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Trimble Inc. by 85% in the first quarter, now holding over 1.1 million shares valued at approximately $73 million.
• Recent insider trading includes sales by VP Jennifer Allison and CEO Robert G. Painter, with a combined total of 222,992 shares sold valued at nearly $18.6 million.
• Analysts have updated their ratings for Trimble, with reports from Piper Sandler, Oppenheimer, and others indicating increased target prices, including a recent average target of $90.50.

Adage Capital Partners GP L.L.C. grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 85.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,112,322 shares of the scientific and technical instruments company's stock after buying an additional 511,200 shares during the period. Adage Capital Partners GP L.L.C. owned 0.47% of Trimble worth $73,024,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec increased its position in Trimble by 369.9% during the first quarter. Federation des caisses Desjardins du Quebec now owns 28,431 shares of the scientific and technical instruments company's stock worth $1,866,000 after buying an additional 22,380 shares in the last quarter. Maverick Capital Ltd. grew its position in Trimble by 102.6% during the first quarter. Maverick Capital Ltd. now owns 11,624 shares of the scientific and technical instruments company's stock valued at $763,000 after acquiring an additional 5,887 shares during the period. Focus Partners Advisor Solutions LLC purchased a new stake in Trimble during the first quarter valued at about $301,000. Alamea Verwaltungs GmbH purchased a new stake in Trimble during the first quarter valued at about $331,000. Finally, MAI Capital Management grew its position in Trimble by 6.6% during the first quarter. MAI Capital Management now owns 2,684 shares of the scientific and technical instruments company's stock valued at $176,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Transactions at Trimble

In other Trimble news, VP Mark David Schwartz sold 1,404 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the sale, the vice president owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James Calvin Dalton sold 609 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director owned 13,809 shares in the company, valued at $1,137,999.69. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,992 shares of company stock worth $18,579,506. 0.54% of the stock is owned by corporate insiders.

Trimble Stock Up 1.3%

Shares of NASDAQ:TRMB traded up $1.03 during trading on Friday, hitting $80.74. The company's stock had a trading volume of 1,332,332 shares, compared to its average volume of 1,512,889. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The stock's 50-day moving average price is $81.53 and its two-hundred day moving average price is $72.42. The company has a market capitalization of $19.21 billion, a PE ratio of 69.60, a PEG ratio of 3.31 and a beta of 1.66.

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

Analysts Set New Price Targets

TRMB has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer upped their target price on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat, Trimble presently has an average rating of "Buy" and an average price target of $90.50.

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.