Trimble Inc. $TRMB Stock Holdings Lowered by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Trimble Inc. by 55.6%, owning 362,588 shares valued at approximately $27.55 million as of the end of the most recent quarter.
• Analysts have recently upgraded Trimble's stock rating, with a consensus price target of $90.75 and several firms setting targets as high as $98.00.
• CEO Robert G. Painter sold 115,781 shares of Trimble at an average price of $82.83, marking a significant decrease in his ownership by 50.20%.

Assenagon Asset Management S.A. cut its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 55.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362,588 shares of the scientific and technical instruments company's stock after selling 453,321 shares during the quarter. Assenagon Asset Management S.A. owned 0.15% of Trimble worth $27,549,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Trimble by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Trimble by 26.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock valued at $458,113,000 after purchasing an additional 1,445,851 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Trimble by 9.7% in the 1st quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock valued at $252,132,000 after purchasing an additional 339,750 shares in the last quarter. Boston Partners raised its holdings in shares of Trimble by 7.9% in the 1st quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company's stock valued at $237,884,000 after purchasing an additional 267,829 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Trimble by 19.8% in the 1st quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company's stock valued at $202,526,000 after purchasing an additional 510,509 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRMB has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, 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 research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, Trimble presently has a consensus rating of "Buy" and an average price target of $90.75.

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 609 shares of the business'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 transaction of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares in the company, valued at $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the business'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 $252,480.00. Following the sale, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,357 shares of company stock valued at $19,181,521 over the last quarter. Company insiders own 0.54% of the company's stock.

Trimble Trading Down 0.8%

Trimble stock traded down $0.63 during trading on Monday, reaching $82.15. The company had a trading volume of 1,167,770 shares, compared to its average volume of 1,397,378. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The stock's 50 day moving average price is $82.07 and its two-hundred day moving average price is $73.26. The firm has a market capitalization of $19.55 billion, a price-to-earnings ratio of 70.82, a PEG ratio of 3.40 and a beta of 1.66. 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 (NASDAQ:TRMB - Get Free Report) last released its 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 net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same period in the previous year, the firm earned $0.62 earnings per share. Trimble's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble Company 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.