Hudson Valley Investment Advisors Inc. ADV Buys 4,307 Shares of Trimble Inc. $TRMB

Key Points

• Hudson Valley Investment Advisors Inc. ADV increased its stake in Trimble Inc. (NASDAQ:TRMB) by 10.2%, acquiring an additional 4,307 shares and bringing its total ownership to 46,437 shares worth approximately $3,528,000.
• Analysts have issued varied ratings for Trimble, with a consensus rating of "Buy" and an average price target of $91.22, while some analysts have set target prices as high as $98.00.
• Insider selling activity was notable, with CEO Robert G. Painter selling 115,781 shares for over $9.5 million, resulting in a significant decrease in his holdings.

Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 10.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 46,437 shares of the scientific and technical instruments company's stock after purchasing an additional 4,307 shares during the period. Hudson Valley Investment Advisors Inc. ADV's holdings in Trimble were worth $3,528,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new stake in Trimble during the 1st quarter worth approximately $45,000. Ameritas Advisory Services LLC bought a new stake in Trimble during the 2nd quarter worth approximately $48,000. Steph & Co. increased its holdings in Trimble by 592.0% during the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 592 shares in the last quarter. State of Wyoming bought a new stake in Trimble during the 1st quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC increased its holdings in 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 worth $64,000 after purchasing an additional 591 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRMB has been the topic of a number of research analyst reports. Berenberg Bank set a $95.00 target price on Trimble and gave the stock a "buy" rating in a research note on Friday. Oppenheimer boosted their target price on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "hold (c)" rating on shares of Trimble in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. boosted their target price on Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Trimble presently has a consensus rating of "Buy" and an average price target of $91.22.

Insider Activity

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the sale, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher F. Keating sold 7,365 shares of the company'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 directly owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,881 shares of company stock valued at $19,066,393. 0.54% of the stock is currently owned by corporate insiders.

Trimble Trading Up 0.6%

NASDAQ:TRMB opened at $80.72 on Friday. The company has a market cap of $19.21 billion, a P/E ratio of 69.59, a P/E/G ratio of 3.29 and a beta of 1.65. The stock's fifty day moving average price is $81.79 and its two-hundred day moving average price is $73.97. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. 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 (NASDAQ:TRMB - Get Free Report) last posted its earnings results 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 firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

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.

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