Exchange Traded Concepts LLC Sells 17,349 Shares of 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 trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 quarter.

Several other hedge funds also recently made changes to their positions in TRMB. Central Pacific Bank Trust Division increased its position in shares of Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Trimble during the first quarter valued at $45,000. Putney Financial Group LLC purchased a new position in Trimble during the fourth quarter valued at approximately $51,000. State of Wyoming acquired a new position in shares of Trimble in the 1st quarter valued at $58,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Price Performance

Shares of TRMB traded down $1.22 during trading hours on Monday, reaching $81.56. 392,449 shares of the stock traded hands, compared to its average volume of 1,557,911. The company's 50-day moving average price is $82.03 and its two-hundred day moving average price is $73.17. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market cap of $19.41 billion, a P/E ratio of 70.26, a price-to-earnings-growth 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.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. On average, analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Activity

In related news, Director James Calvin Dalton sold 609 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares of the company's stock, valued at $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction dated 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 owned 2,882 shares in the company, valued at $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,992 shares of company stock valued at $18,579,506. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.