Korea Investment CORP Buys 4,687 Shares of Trimble Inc. $TRMB

Key Points

• Korea Investment CORP increased its holdings in Trimble Inc. by 3.7% in Q1, now owning 130,656 shares valued at approximately $8.58 million.
• Several large investors are modifying their stakes in Trimble, with notable increases from Vanguard Group (2.0%), Select Equity Group (22.4%), and Invesco Ltd. (9.7%).
• Trimble reported better-than-expected earnings with $0.71 EPS for the latest quarter, surpassing analyst estimates of $0.63.

Korea Investment CORP increased its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 3.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 130,656 shares of the scientific and technical instruments company's stock after purchasing an additional 4,687 shares during the period. Korea Investment CORP owned 0.05% of Trimble worth $8,578,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TRMB. Central Pacific Bank Trust Division lifted its holdings in Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 355 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Trimble during the 4th quarter worth about $51,000. Quarry LP lifted its holdings in Trimble by 121.8% during the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after purchasing an additional 402 shares in the last quarter. Farther Finance Advisors LLC lifted 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. Finally, Friedenthal Financial lifted its holdings in Trimble by 64.7% during the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $0.75 during trading hours on Wednesday, reaching $82.19. 628,115 shares of the stock traded hands, compared to its average volume of 1,578,988. The company has a market capitalization of $19.56 billion, a P/E ratio of 70.79, a price-to-earnings-growth ratio of 3.34 and a beta of 1.69. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company's 50-day simple moving average is $80.39 and its two-hundred day simple moving average is $72.07.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.Trimble's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Equities research analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was 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 of the company's stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was 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 in the company, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,383 shares of company stock valued at $18,529,318. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Oppenheimer boosted 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. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Raymond James Financial reissued an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble 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 company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $90.50.

Trimble Company 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.