Public Employees Retirement System of Ohio Raises Holdings in Trimble Inc. $TRMB

Key Points

• The Public Employees Retirement System of Ohio has increased its stake in Trimble Inc. by 2.1%, now owning 157,218 shares valued at approximately $11.9 million.
• Several institutional investors have significantly increased their holdings in Trimble, with Central Pacific Bank Trust Division raising its position by 174.9% in the first quarter.
• Trimble's stock performance indicates a 52-week range of $52.91 to $87.50, with a recent EPS of $0.71 exceeding analyst estimates.

Public Employees Retirement System of Ohio increased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,218 shares of the scientific and technical instruments company's stock after purchasing an additional 3,288 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of Trimble worth $11,945,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division increased its position in shares of Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 355 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in Trimble in the 1st quarter valued at $45,000. State of Wyoming purchased a new stake in Trimble in the 1st quarter valued at $58,000. Farther Finance Advisors LLC grew its holdings in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 591 shares in the last quarter. Finally, Friedenthal Financial grew its holdings in Trimble by 64.7% in the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after buying an additional 453 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the transaction, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This represents a 52.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,357 shares of company stock worth $19,181,521 in the last quarter. Insiders own 0.54% of the company's stock.

Trimble Stock Performance

Shares of Trimble stock opened at $81.24 on Friday. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The business's fifty day simple moving average is $82.05 and its 200-day simple moving average is $73.56. The firm has a market cap of $19.33 billion, a PE ratio of 70.04, a price-to-earnings-growth ratio of 3.28 and a beta of 1.66. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results 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 return on equity of 10.24% and a net margin of 8.02%.The business had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same quarter in the prior year, the company posted $0.62 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. Equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TRMB shares. JPMorgan Chase & Co. upped their target price on Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Raymond James Financial restated 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. Oppenheimer upped their target price on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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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