MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires New Holdings in Trimble Inc. $TRMB

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Trimble Inc. by purchasing 34,465 shares valued at approximately $2.6 million during the second quarter.
• Several hedge funds have recently increased their stakes in Trimble, with institutional investors now owning 93.21% of the stock.
• Analysts are optimistic about Trimble's performance, with a consensus rating of "Buy" and target prices increasing, including Oppenheimer raising it to $94 and JPMorgan to $98.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 34,465 shares of the scientific and technical instruments company's stock, valued at approximately $2,619,000.

A number of other hedge funds have also recently made changes to their positions in TRMB. Brighton Jones LLC purchased a new stake in shares of Trimble in the fourth quarter worth $211,000. Vident Advisory LLC bought a new position in Trimble in the 4th quarter worth about $271,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of Trimble by 43.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 5,764 shares of the scientific and technical instruments company's stock valued at $407,000 after acquiring an additional 1,737 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Trimble during the fourth quarter worth about $18,254,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Trimble during the fourth quarter worth about $928,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Wall Street Zen raised shares of 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 issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus price target of $90.75.

Insider Activity at Trimble

In other news, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company's stock, valued at approximately $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the transaction, the vice president directly owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock worth $19,181,521 over the last three months. Corporate insiders own 0.54% of the company's stock.

Trimble Price Performance

Shares of Trimble stock opened at $79.98 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company has a fifty day moving average of $82.06 and a 200-day moving average of $73.46. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of 68.95, a price-to-earnings-growth ratio of 3.28 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 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate 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. Equities research analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

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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