Lantz Financial LLC Makes New Investment in Trimble Inc. $TRMB

Key Points

• Lantz Financial LLC has acquired a stake in Trimble Inc., purchasing 3,057 shares valued at approximately $232,000 in the second quarter.
• Analysts have upgraded their price targets for Trimble, with Raymond James setting a new target of $93.00 and JPMorgan Chase raising theirs to $98.00, indicating a consensus rating of "Buy."
• Trimble reported an EPS of $0.71 for the last quarter, exceeding estimates, with a revenue of $875.70 million reflecting a year-over-year increase of 0.6%.

Lantz Financial LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,057 shares of the scientific and technical instruments company's stock, valued at approximately $232,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division lifted its holdings in shares of Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Trimble in the first quarter valued at approximately $45,000. Putney Financial Group LLC acquired a new position in shares of Trimble in the 4th quarter valued at $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 raised its position in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after purchasing an additional 591 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the sale, the vice president owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,357 shares of company stock valued at $19,181,521. Corporate insiders own 0.54% of the company's stock.

Trimble Trading Down 0.7%

Shares of TRMB traded down $0.57 during mid-day trading on Tuesday, hitting $81.58. The company had a trading volume of 438,191 shares, compared to its average volume of 1,556,125. The business's 50-day simple moving average is $82.07 and its 200-day simple moving average is $73.26. 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 1-year low of $52.91 and a 1-year high of $87.50. The stock has a market cap of $19.41 billion, a PE ratio of 70.32, a P/E/G ratio of 3.40 and a beta of 1.66.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Trimble's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter 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 year.

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.