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

Other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in shares of Trimble by 174.9% during the first 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 bought a new position in Trimble in the 1st quarter worth approximately $45,000. Putney Financial Group LLC bought a new position in Trimble during the 4th quarter valued at $51,000. State of Wyoming bought a new position in Trimble during the 1st quarter valued at $58,000. Finally, Farther Finance Advisors LLC boosted its stake 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 valued at $64,000 after purchasing an additional 591 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

TRMB stock traded down $0.63 during mid-day trading on Monday, reaching $82.15. 1,167,770 shares of the stock traded hands, compared to its average volume of 1,562,506. 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 business has a 50-day moving average of $82.03 and a two-hundred day moving average of $73.17. The firm has a market capitalization of $19.55 billion, a PE ratio of 70.82, a P/E/G ratio of 3.40 and a beta of 1.66.

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

Analyst Ratings Changes

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

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of Trimble 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 sale, the vice president directly owned 2,882 shares of the company's stock, valued at $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director directly owned 13,809 shares in the company, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,357 shares of company stock valued at $19,181,521. 0.54% of the stock is owned by corporate insiders.

Trimble 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.