Inspire Investing LLC Boosts Stock Holdings in Trimble Inc. $TRMB

Key Points

• Inspire Investing LLC increased its holdings in Trimble Inc. by 15.3% during the 1st quarter, now owning 30,413 shares valued at nearly $2 million.
• Trimble's stock price opened at $80.88, with significant analyst upgrades leading to a consensus target price of $90.50.
• Company insiders have sold a total of 222,992 shares over the last three months, representing over $18 million in transactions.

Inspire Investing LLC raised its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 15.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,413 shares of the scientific and technical instruments company's stock after purchasing an additional 4,047 shares during the period. Inspire Investing LLC's holdings in Trimble were worth $1,997,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its stake in shares of Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after purchasing an additional 943 shares in the last quarter. DAVENPORT & Co LLC increased its stake in shares of Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after purchasing an additional 452 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock worth $2,355,000 after purchasing an additional 2,397 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock worth $2,793,000 after buying an additional 4,185 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock worth $346,000 after buying an additional 1,059 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the 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 transaction, the vice president directly owned 2,882 shares in the company, valued at $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the 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 transaction, the vice president 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 disclosure for this sale can be found here. Over the last three months, insiders sold 222,992 shares of company stock valued at $18,579,506. Company insiders own 0.54% of the company's stock.

Trimble Trading Down 2.4%

Shares of TRMB opened at $80.88 on Friday. The firm's 50 day simple moving average is $81.88 and its 200 day simple moving average is $72.73. The company has a market capitalization of $19.25 billion, a P/E ratio of 69.72, 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 1-year low of $52.91 and a 1-year high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The business 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%. Trimble's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. Sell-side analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of a number of recent analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $93.00 price target (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Oppenheimer increased their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, Trimble presently has a consensus rating of "Buy" and an average target price of $90.50.

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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