Allspring Global Investments Holdings LLC Purchases 28,135 Shares of Trimble Inc. $TRMB

Key Points

• Allspring Global Investments Holdings LLC increased its shareholding in Trimble Inc. by 65.9%, acquiring 28,135 shares to reach a total of 70,854 shares valued at approximately $5.4 million.
• Trimble CEO Robert G. Painter and Director James Calvin Dalton recently sold shares, with Painter selling 7,500 shares for about $567,375, representing a 7.51% decline in his ownership.
• Analysts have set a positive outlook on Trimble, with multiple brokerages issuing target prices between $93.00 and $100.00 and a consensus rating of "Buy."

Allspring Global Investments Holdings LLC raised its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 65.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,854 shares of the scientific and technical instruments company's stock after acquiring an additional 28,135 shares during the period. Allspring Global Investments Holdings LLC's holdings in Trimble were worth $5,417,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Flaharty Asset Management LLC bought a new stake in shares of Trimble during the first quarter worth $45,000. Ameritas Advisory Services LLC bought a new stake in shares of Trimble during the second quarter worth $48,000. Steph & Co. grew its holdings in shares of Trimble by 592.0% during the second quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 592 shares during the last quarter. State of Wyoming bought a new stake in shares of Trimble during the first quarter worth $58,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after purchasing an additional 591 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Robert G. Painter sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $75.65, for a total value of $567,375.00. Following the completion of the sale, the chief executive officer directly owned 92,379 shares of the company's stock, valued at $6,988,471.35. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Calvin Dalton sold 609 shares of the firm'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 completion of the sale, the director directly owned 13,809 shares of the company's stock, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,321 shares of company stock valued at $18,677,518 over the last three months. Insiders own 0.54% of the company's stock.

Trimble Stock Up 1.5%

NASDAQ:TRMB opened at $78.58 on Tuesday. 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 market cap of $18.70 billion, a PE ratio of 67.74, a PEG ratio of 3.18 and a beta of 1.65. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The stock has a 50-day simple moving average of $80.62 and a 200 day simple moving average of $74.95.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm had revenue of $856.50 million during the quarter. On average, sell-side analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TRMB. Barclays began coverage on Trimble in a research note on Tuesday, October 7th. They set an "overweight" rating and a $100.00 price target on the stock. Oppenheimer upped their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Berenberg Bank set a $95.00 price target on Trimble and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $92.10.

About Trimble

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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