AQR Capital Management LLC Lowers Stock Holdings in Trimble Inc. $TRMB

Key Points

• AQR Capital Management LLC reduced its holdings in Trimble Inc. by 17.6%, now owning 963,652 shares valued at approximately $62 million.
• Trimble's stock is currently priced at $80.74, with a market cap of $19.21 billion, and has shown a 1-year range between $52.91 (low) and $87.50 (high).
• Wall Street analysts maintain a positive outlook on Trimble, with a consensus rating of "Buy" and price targets averaging around $90.50.

AQR Capital Management LLC decreased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 963,652 shares of the scientific and technical instruments company's stock after selling 206,407 shares during the period. AQR Capital Management LLC owned approximately 0.40% of Trimble worth $62,088,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MAI Capital Management raised 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 purchasing an additional 165 shares in the last quarter. Horizon Investments LLC raised its position in Trimble by 5.6% during the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock valued at $232,000 after purchasing an additional 188 shares in the last quarter. CW Advisors LLC raised its position in Trimble by 1.9% during the first quarter. CW Advisors LLC now owns 11,172 shares of the scientific and technical instruments company's stock valued at $733,000 after purchasing an additional 207 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Trimble by 1.0% during the first 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 purchasing an additional 210 shares in the last quarter. Finally, Simmons Bank raised its position in Trimble by 1.4% during the first quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock valued at $1,050,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Stock Up 1.3%

Shares of NASDAQ:TRMB opened at $80.74 on Friday. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. The company has a market cap of $19.21 billion, a PE ratio of 69.60, a P/E/G ratio of 3.27 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The stock's 50-day moving average is $81.53 and its 200 day moving average is $72.44.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. The trade was a 50.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer Allison sold 3,156 shares of the business'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 $252,480.00. Following the transaction, the vice president owned 2,882 shares in the company, valued at approximately $230,560. This represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,992 shares of company stock worth $18,579,506 in the last quarter. 0.54% of the stock is currently owned by company insiders.

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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