Patton Fund Management Inc. Purchases New Stake in Trimble Inc. $TRMB

Key Points

• Patton Fund Management Inc. acquired a new stake in Trimble Inc., purchasing 3,569 shares valued at around $271,000.
• Trimble's recent quarterly earnings report showed an earnings per share (EPS) of $0.71, surpassing expectations and highlighting a 0.6% year-over-year revenue increase.
• Several analysts have upgraded Trimble's stock ratings, with price targets increasing to as high as $98.00, indicating positive sentiment among market experts.

Patton Fund Management Inc. purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,569 shares of the scientific and technical instruments company's stock, valued at approximately $271,000.

Several other institutional investors have also added to or reduced their stakes in TRMB. Brighton Jones LLC bought a new position in Trimble in the 4th quarter worth $211,000. B. Riley Wealth Advisors Inc. raised its holdings in 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 worth $407,000 after purchasing an additional 1,737 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Trimble by 9.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,479 shares of the scientific and technical instruments company's stock worth $2,366,000 after purchasing an additional 2,927 shares in the last quarter. Wellington Management Group LLP raised its holdings in Trimble by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock worth $1,580,000 after purchasing an additional 5,472 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in Trimble by 20.9% in the 1st quarter. First Hawaiian Bank now owns 16,078 shares of the scientific and technical instruments company's stock worth $1,056,000 after purchasing an additional 2,780 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Performance

Shares of TRMB stock opened at $81.24 on Friday. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company's 50-day moving average is $82.05 and its 200 day moving average is $73.60. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 70.04, a price-to-earnings-growth ratio of 3.33 and a beta of 1.66. 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 (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating 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 the consensus estimate of $835.81 million. During the same period in the prior year, the firm posted $0.62 EPS. Trimble's revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on TRMB shares. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Oppenheimer increased their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial reiterated an "outperform" rating and issued a $93.00 price target (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased 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, September 19th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $90.75.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the sale, the chief executive officer directly owned 114,879 shares of the company's stock, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their position. The sale 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 the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the sale, the vice president directly owned 406 shares in the company, valued at $33,186.44. This trade represents 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 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

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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