Exchange Traded Concepts LLC Has $13.27 Million Position in Trimble Inc. $TRMB

Key Points

• Exchange Traded Concepts LLC has reduced its holdings in Trimble Inc. by 9.0%, owning approximately 174,632 shares valued at $13.27 million after selling 17,349 shares in the second quarter.
• Wall Street analysts are optimistic about Trimble's stock, with multiple firms raising their price targets and several giving it a "Buy" or "Outperform" rating.
• Trimble reported a quarterly earnings per share (EPS) of $0.71, surpassing the consensus estimate and showing a **year-over-year revenue growth** of **0.6%.**

Exchange Traded Concepts LLC lessened its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 174,632 shares of the scientific and technical instruments company's stock after selling 17,349 shares during the period. Exchange Traded Concepts LLC owned about 0.07% of Trimble worth $13,269,000 at the end of the most recent reporting period.

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

Trimble Stock Down 0.8%

Shares of NASDAQ:TRMB traded down $0.63 during midday trading on Monday, hitting $82.15. 1,167,770 shares of the stock were exchanged, compared to its average volume of 1,397,378. 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 $19.55 billion, a PE ratio of 70.82, a P/E/G ratio of 3.40 and a beta of 1.66. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The business's fifty day simple moving average is $82.07 and its two-hundred day simple moving average is $73.26.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million for 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 business's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the transaction, the vice president directly owned 22,405 shares of the company's stock, valued at $1,747,590. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 transaction, the director directly owned 13,809 shares in the company, valued at $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,357 shares of company stock valued at $19,181,521. Corporate insiders own 0.54% of the company's stock.

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.