LPL Financial LLC Increases Holdings in Trimble Inc. (NASDAQ:TRMB)

Key Points

• LPL Financial LLC increased its holdings in Trimble Inc. by 53.7%, owning a total of 68,929 shares worth approximately $4.5 million.
• Various large investors, including Select Equity Group L.P., raised their positions in Trimble during the last quarter, with 93.21% of the stock currently owned by institutional investors.
• Trimble reported earnings that exceeded expectations, with $0.71 earnings per share for the quarter, surpassing the consensus estimate of $0.63.

LPL Financial LLC grew its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 53.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,929 shares of the scientific and technical instruments company's stock after acquiring an additional 24,090 shares during the period. LPL Financial LLC's holdings in Trimble were worth $4,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Select Equity Group L.P. lifted its position in shares of Trimble by 22.4% in the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Trimble by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after acquiring an additional 134,277 shares in the last quarter. Contour Asset Management LLC lifted its position in shares of Trimble by 4.4% in the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock valued at $330,772,000 after acquiring an additional 197,913 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Trimble by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 2,794,854 shares of the scientific and technical instruments company's stock valued at $197,483,000 after acquiring an additional 26,223 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Trimble by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,574,428 shares of the scientific and technical instruments company's stock valued at $181,909,000 after acquiring an additional 268,453 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Trading Down 0.9%

Shares of NASDAQ TRMB opened at $83.67 on Friday. The business's 50 day moving average is $78.91 and its two-hundred day moving average is $71.73. 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. The stock has a market capitalization of $19.91 billion, a P/E ratio of 72.13, a PEG ratio of 3.47 and a beta of 1.69.

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

Analyst Ratings Changes

TRMB has been the topic of several research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up from $85.00) on shares of Trimble 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. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. Oppenheimer lifted their target price on 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. lifted 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trimble has an average rating of "Buy" and a consensus target price of $90.50.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the business'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 transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. The trade was a 50.20% 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, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president owned 2,882 shares of the company's stock, valued at $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,894 shares of company stock worth $18,996,091 over the last three months. 0.54% of the stock is currently 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.

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