APG Asset Management N.V. Has $8.44 Million Holdings in Trimble Inc. $TRMB

Key Points

• APG Asset Management N.V. has reduced its stake in Trimble Inc. by 2.9%, now holding approximately $8.44 million worth of shares after selling 4,151 during the 1st quarter.
• Several large institutional investors have recently increased their positions in Trimble, with Nuveen LLC acquiring a new stake valued at $122 million.
• Trimble's recent quarterly earnings report exceeded analysts' expectations, with $0.71 EPS reported compared to a consensus estimate of $0.63.

APG Asset Management N.V. cut its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,835 shares of the scientific and technical instruments company's stock after selling 4,151 shares during the quarter. APG Asset Management N.V. owned about 0.06% of Trimble worth $8,438,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TRMB. Nuveen LLC acquired a new stake in shares of Trimble during the first quarter worth $122,070,000. Select Equity Group L.P. increased its position in shares of Trimble by 22.4% during 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 buying an additional 1,857,517 shares during the period. Assenagon Asset Management S.A. boosted its stake in Trimble by 338.8% during 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 acquiring an additional 629,960 shares in the last quarter. Vanguard Group Inc. boosted its stake in Trimble by 2.0% during 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 acquiring an additional 582,124 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Trimble by 296.5% during 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 acquiring an additional 554,514 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRMB. Raymond James Financial reissued an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Piper Sandler reissued an "overweight" rating and set a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer increased their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. increased their target price 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 equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $90.50.

Trimble Stock Down 1.4%

Trimble stock opened at $81.43 on Tuesday. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 70.20, a price-to-earnings-growth ratio of 3.39 and a beta of 1.69. The firm's fifty day moving average price is $80.20 and its two-hundred day moving average price is $72.01. 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 (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating 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 firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period last year, the firm earned $0.62 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the sale, the vice president owned 2,882 shares in the company, valued at $230,560. This represents a 52.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company's stock, valued at approximately $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,383 shares of company stock worth $18,529,318 over the last quarter. Insiders own 0.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.