Integrated Wealth Concepts LLC Boosts Stock Position in Trimble Inc. $TRMB

Key Points

• Integrated Wealth Concepts LLC increased its stake in Trimble Inc. by 1,518.6% during Q1, holding a total of 49,981 shares valued at approximately $3.3 million.
• Several hedge funds, including Deutsche Bank AG and Baird Financial Group Inc., also acquired new positions in Trimble, indicating strong institutional support with 93.21% of the stock owned by institutional investors.
• Analysts are bullish on Trimble, with a consensus rating of "Buy" and price targets raised by firms like JPMorgan Chase and Oppenheimer.

Integrated Wealth Concepts LLC increased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 1,518.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,981 shares of the scientific and technical instruments company's stock after buying an additional 46,893 shares during the period. Integrated Wealth Concepts LLC's holdings in Trimble were worth $3,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Trimble during the 4th quarter valued at $211,000. Baird Financial Group Inc. bought a new position in shares of Trimble during the 4th quarter valued at $214,000. Balyasny Asset Management L.P. bought a new position in shares of Trimble during the 4th quarter valued at $474,000. Cetera Investment Advisers lifted its holdings in shares of Trimble by 8.5% during the 4th quarter. Cetera Investment Advisers now owns 14,290 shares of the scientific and technical instruments company's stock valued at $1,010,000 after buying an additional 1,119 shares during the period. Finally, Deutsche Bank AG raised its holdings in Trimble by 12.0% in the 4th quarter. Deutsche Bank AG now owns 1,670,116 shares of the scientific and technical instruments company's stock worth $118,010,000 after purchasing an additional 179,103 shares during the period. 93.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer raised their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial restated an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, Trimble currently has an average rating of "Buy" and an average target price of $90.50.

Trimble Trading Up 1.3%

TRMB opened at $80.74 on Monday. The firm has a market cap of $19.21 billion, a P/E ratio of 69.60, a P/E/G ratio of 3.31 and a beta of 1.66. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. 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 stock has a 50-day moving average of $81.53 and a 200 day moving average of $72.41.

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

Insiders Place Their Bets

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at $1,747,590. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer owned 114,879 shares of the company's stock, valued at $9,515,427.57. This trade represents a 50.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,992 shares of company stock worth $18,579,506 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

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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