Norris Perne & French LLP MI Sells 4,629 Shares of Trimble Inc. $TRMB

Key Points

• Norris Perne & French LLP MI reduced its stake in Trimble Inc. by 1.3%, selling 4,629 shares to hold a total of 340,072 shares, which represents about 1.8% of their investment portfolio.
• Trimble Inc. reported earnings of $0.71 per share for the last quarter, exceeding analysts' expectations of $0.63, with revenue reaching $875.70 million.
• The company has drawn attention from several analysts, with multiple price target increases, including a new target of $98.00 from JPMorgan Chase & Co.

Norris Perne & French LLP MI trimmed its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 340,072 shares of the scientific and technical instruments company's stock after selling 4,629 shares during the period. Trimble accounts for about 1.8% of Norris Perne & French LLP MI's investment portfolio, making the stock its 23rd largest position. Norris Perne & French LLP MI owned approximately 0.14% of Trimble worth $25,839,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MAI Capital Management increased its position in Trimble by 6.6% in the 1st quarter. MAI Capital Management now owns 2,684 shares of the scientific and technical instruments company's stock worth $176,000 after buying an additional 165 shares during the period. Horizon Investments LLC increased its position in Trimble by 5.6% in the 1st quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock worth $232,000 after buying an additional 188 shares during the period. CW Advisors LLC increased its position in Trimble by 1.9% in the 1st quarter. CW Advisors LLC now owns 11,172 shares of the scientific and technical instruments company's stock worth $733,000 after buying an additional 207 shares during the period. Oregon Public Employees Retirement Fund increased its position in Trimble by 1.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock worth $1,386,000 after buying an additional 210 shares during the period. Finally, Simmons Bank increased its position in Trimble by 1.4% in the 1st quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock worth $1,050,000 after buying an additional 214 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Price Performance

Shares of TRMB stock opened at $81.24 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The stock's fifty day simple moving average is $82.05 and its 200 day simple moving average is $73.65. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 70.04, a P/E/G ratio of 3.33 and a beta of 1.66.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $875.70 million during 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%.The business's revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. On average, analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

TRMB has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Oppenheimer lifted 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. 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. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $90.75.

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares of the company's stock, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction 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 directly owned 2,882 shares of the company's stock, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,357 shares of company stock valued at $19,181,521. Insiders own 0.54% of the company's stock.

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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