Park Avenue Securities LLC Acquires Shares of 9,607 Trimble Inc. $TRMB

Key Points

• Park Avenue Securities LLC has acquired a new stake in Trimble Inc., purchasing 9,607 shares valued at approximately $730,000 in the second quarter.
• A significant majority of Trimble's stock (93.21%) is currently owned by institutional investors and hedge funds, reflecting strong institutional interest.
• Trimble reported quarterly earnings of $0.71 per share, outperforming the consensus estimate, with revenue reaching $875.70 million, a 0.6% increase year-over-year.

Park Avenue Securities LLC acquired a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,607 shares of the scientific and technical instruments company's stock, valued at approximately $730,000.

Other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its stake in Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock valued at $268,000 after purchasing an additional 943 shares during the period. DAVENPORT & Co LLC increased its stake in Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock valued at $522,000 after purchasing an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after purchasing an additional 2,397 shares during the period. CX Institutional increased its stake in Trimble by 11.7% in the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company's stock valued at $536,000 after purchasing an additional 739 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after purchasing an additional 4,185 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 609 shares of the company's stock in a transaction that occurred on 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 owned 13,809 shares of the company's stock, valued at approximately $1,137,999.69. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark David Schwartz sold 1,476 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the sale, the vice president directly owned 22,405 shares in the company, valued at approximately $1,747,590. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock valued at $19,181,521 in the last ninety days. Company insiders own 0.54% of the company's stock.

Trimble Trading Up 1.6%

Shares of TRMB opened at $81.24 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The firm's 50-day moving average is $82.05 and its two-hundred day moving average is $73.60. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The firm has a market capitalization of $19.33 billion, a P/E ratio of 70.04, a PEG ratio of 3.33 and a beta of 1.66.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its 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 company had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period in the prior year, the business posted $0.62 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TRMB shares. Raymond James Financial reiterated 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. 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. Oppenheimer raised their price objective 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. 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 investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $90.75.

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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