Credit Agricole S A Raises Holdings in Trimble Inc. $TRMB

Key Points

• Credit Agricole S A increased its holdings in Trimble Inc. by 9.9%, acquiring an additional 6,592 shares, bringing its total to 73,263 shares worth approximately $4.81 million.
• Trimble received multiple upgrades from analysts, with Raymond James setting a new price target of $93.00 and Wall Street Zen upgrading the stock from "hold" to "buy."
• Insider trading activity included CEO Robert G. Painter selling 115,781 shares at an average price of $82.83, which is a significant decrease in his ownership position.

Credit Agricole S A boosted its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,263 shares of the scientific and technical instruments company's stock after acquiring an additional 6,592 shares during the quarter. Credit Agricole S A's holdings in Trimble were worth $4,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRMB. Central Pacific Bank Trust Division lifted its holdings in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 355 shares during the period. Putney Financial Group LLC bought a new position in shares of Trimble during the 4th quarter valued at $51,000. Quarry LP lifted its holdings in shares of Trimble by 121.8% during the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 402 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 591 shares during the period. Finally, Friedenthal Financial lifted its holdings in shares of Trimble by 64.7% during the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after buying an additional 453 shares during the period. 93.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TRMB shares. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler restated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Raymond James Financial restated an "outperform" rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Oppenheimer upped their price objective on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One 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, the company has a consensus rating of "Buy" and an average target price of $90.50.

Trimble Trading Up 1.0%

Shares of NASDAQ:TRMB traded up $0.85 during trading on Wednesday, reaching $82.29. The company's stock had a trading volume of 664,000 shares, compared to its average volume of 1,579,429. 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 12 month low of $52.91 and a 12 month high of $87.50. The firm's 50 day simple moving average is $80.39 and its two-hundred day simple moving average is $72.07. The stock has a market capitalization of $19.58 billion, a PE ratio of 70.89, a price-to-earnings-growth ratio of 3.34 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. On average, research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Activity

In other news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the sale, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the sale, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,383 shares of company stock valued at $18,529,318. 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.