Assenagon Asset Management S.A. Has $27.55 Million Stake in Trimble Inc. $TRMB

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. lowered 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in Trimble in the first quarter valued at approximately $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 acquiring an additional 1,445,851 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 worth $1,988,450,000 after purchasing an additional 582,124 shares during the period. Raymond James Financial Inc. increased its holdings in Trimble by 296.5% during the 1st quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company's stock worth $48,680,000 after purchasing an additional 554,514 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Trimble by 85.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,112,322 shares of the scientific and technical instruments company's stock valued at $73,024,000 after purchasing an additional 511,200 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the subject of several recent research reports. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer upped their price target 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 set a $93.00 price target (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $90.75.

Insider Buying and Selling at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 114,879 shares of the company's stock, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark David Schwartz sold 1,476 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the transaction, the vice president owned 22,405 shares in the company, valued at approximately $1,747,590. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,992 shares of company stock worth $18,579,506. 0.54% of the stock is currently owned by company insiders.

Trimble Stock Performance

TRMB opened at $82.78 on Monday. 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 business has a fifty day simple moving average of $82.03 and a 200 day simple moving average of $73.17. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. The company has a market capitalization of $19.70 billion, a PE ratio of 71.36, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $835.81 million. During the same quarter last year, the firm earned $0.62 earnings per share. The company's revenue was up .6% on a year-over-year basis. Research analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

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.

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