6,499 Shares in Trimble Inc. $TRMB Acquired by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management Inc. acquired 6,499 shares of Trimble Inc. for approximately $494,000 during the 2nd quarter, as detailed in their SEC filing.
• Several institutional investors, including Brighton Jones LLC and Royal Bank of Canada, significantly adjusted their positions in Trimble during the fourth quarter, indicating increased interest in the stock.
• Trimble reported an EPS of $0.71 for the last quarter, surpassing analysts' estimates and showing a slight revenue increase compared to the previous year, with a consensus target price of $90.50 from analysts.

Contravisory Investment Management Inc. purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,499 shares of the scientific and technical instruments company's stock, valued at approximately $494,000.

Several other large investors have also added to or reduced their stakes in the business. MAI Capital Management grew its position in Trimble by 6.6% in the 1st 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 during the period. Horizon Investments LLC boosted its stake in Trimble by 5.6% during the 1st 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 during the last quarter. CW Advisors LLC raised its stake in shares of Trimble by 1.9% in the first quarter. CW Advisors LLC now owns 11,172 shares of the scientific and technical instruments company's stock worth $733,000 after purchasing an additional 207 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Trimble by 1.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock worth $1,386,000 after acquiring an additional 210 shares in the last quarter. Finally, Simmons Bank lifted its position in shares of 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. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

NASDAQ:TRMB traded down $0.94 during midday trading on Monday, hitting $81.85. The company's stock had a trading volume of 555,606 shares, compared to its average volume of 1,558,826. The firm's 50 day moving average is $82.03 and its 200-day moving average is $73.17. The firm has a market cap of $19.48 billion, a P/E ratio of 70.54, a P/E/G ratio of 3.40 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. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50.

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 for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business's revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. Equities analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Friday. Raymond James Financial reissued an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Oppenheimer raised their target price on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $90.75.

Insider Transactions at Trimble

In other news, VP Mark David Schwartz sold 1,404 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 transaction of $112,320.00. Following the transaction, the vice president directly owned 21,001 shares in the company, valued at $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer Allison sold 3,156 shares of the firm'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 transaction, the vice president directly owned 2,882 shares of the company's stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,992 shares of company stock worth $18,579,506 over the last three months. 0.54% of the stock is currently owned by company insiders.

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.