Board of the Pension Protection Fund Purchases Shares of 21,500 Trimble Inc. $TRMB

Key Points

• The Pension Protection Fund acquired a new stake in Trimble Inc., purchasing 21,500 shares valued at approximately $1,634,000, making Trimble its 7th largest holding.
• Trimble's stock has seen institutional investors increase their holdings significantly, with major increases from firms like Vanguard and UBS, contributing to 93.21% of the stock being owned by institutional players.
• Trimble's share price recently opened at $75.63, reflecting a 4.5% decline and a current market capitalization of $18 billion, with analysts projecting an earnings per share of 2.37 for the year.

Board of the Pension Protection Fund purchased a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,500 shares of the scientific and technical instruments company's stock, valued at approximately $1,634,000. Trimble makes up 1.8% of Board of the Pension Protection Fund's holdings, making the stock its 7th largest holding.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Trimble by 2.0% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Trimble by 26.1% in the first 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 worth $458,113,000 after acquiring an additional 1,445,851 shares during the last quarter. Invesco Ltd. raised its stake in shares of Trimble by 9.7% in the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock worth $252,132,000 after acquiring an additional 339,750 shares during the last quarter. Boston Partners raised its stake in shares of Trimble by 7.9% in the first quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company's stock worth $237,884,000 after acquiring an additional 267,829 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Trimble by 19.8% in the first quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company's stock worth $202,526,000 after acquiring an additional 510,509 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Down 4.5%

Shares of NASDAQ:TRMB opened at $75.63 on Friday. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. 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 capitalization of $18.00 billion, a PE ratio of 65.20, a PEG ratio of 3.10 and a beta of 1.65. The company has a 50 day moving average price of $81.27 and a two-hundred day moving average price of $74.29.

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

Insider Buying and Selling at Trimble

In other news, VP Christopher F. Keating sold 7,365 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at $33,186.44. This represents a 94.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Calvin Dalton sold 609 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the sale, the director directly owned 13,809 shares of the company's stock, valued at $1,137,999.69. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,821 shares of company stock valued at $18,110,143. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TRMB. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted 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, September 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Trimble in a research note on Wednesday. Barclays assumed coverage on shares of Trimble in a research note on Tuesday. They set an "overweight" rating and a $100.00 price target for the company. Finally, Berenberg Bank set a $95.00 price target on shares of Trimble and gave the stock a "buy" rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus 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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