Clear Harbor Asset Management LLC Has $18.56 Million Stake in Trimble Inc. $TRMB

Key Points

• Clear Harbor Asset Management LLC reduced its position in Trimble Inc. by 2.6%, now holding 244,291 shares valued at approximately $18.6 million.
• After recent analyst evaluations, Trimble's stock received upgraded ratings, with price targets rising to between $93.00 and $98.00, indicating a positive outlook.
• CEO Robert G. Painter sold over 115,781 shares of Trimble stock, representing a 50.2% decrease in his position, raising questions about insider confidence.

Clear Harbor Asset Management LLC cut its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,291 shares of the scientific and technical instruments company's stock after selling 6,600 shares during the period. Trimble comprises approximately 1.4% of Clear Harbor Asset Management LLC's investment portfolio, making the stock its 14th biggest position. Clear Harbor Asset Management LLC owned approximately 0.10% of Trimble worth $18,561,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Trimble in the 1st quarter valued at about $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Trimble by 26.1% during 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 buying an additional 1,445,851 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Trimble by 338.8% in the 1st 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 purchasing an additional 629,960 shares during the period. Vanguard Group Inc. increased its position 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 valued at $1,988,450,000 after acquiring an additional 582,124 shares during the period. Finally, Raymond James Financial Inc. increased its position in shares of Trimble by 296.5% in the first quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company's stock valued at $48,680,000 after acquiring an additional 554,514 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Oppenheimer boosted their price objective 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. Raymond James Financial restated an "outperform" rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat, Trimble currently has an average rating of "Buy" and a consensus price target of $90.75.

Trimble Trading Down 0.8%

NASDAQ TRMB traded down $0.63 during trading hours 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. The stock has a 50-day moving average of $82.07 and a 200 day moving average of $73.26. 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 Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The stock has a market capitalization of $19.55 billion, a P/E ratio of 70.82, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping 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 business 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 posted $0.62 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction on 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 directly owned 2,882 shares in the company, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,357 shares of company stock worth $19,181,521. Corporate insiders own 0.54% of the company's stock.

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.