QRG Capital Management Inc. Acquires 14,757 Shares of Trimble Inc. $TRMB

Key Points

• QRG Capital Management Inc. increased its stake in Trimble Inc. by 14% in Q2, owning a total of 120,471 shares valued at approximately $9.15 million.
• Multiple analysts have upgraded their ratings on Trimble, with JPMorgan raising the price target from $96 to $98 and maintaining an "overweight" rating.
• Trimble's latest earnings report showed an EPS of $0.71, exceeding estimates, with quarterly revenues of $875.7 million, marking a year-over-year growth of 0.6%.

QRG Capital Management Inc. lifted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,471 shares of the scientific and technical instruments company's stock after purchasing an additional 14,757 shares during the period. QRG Capital Management Inc. owned 0.05% of Trimble worth $9,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMB. Brighton Jones LLC bought a new stake in shares of Trimble during the 4th quarter valued at about $211,000. Parallel Advisors LLC boosted its position in shares of Trimble by 20.0% during the 1st quarter. Parallel Advisors LLC now owns 1,904 shares of the scientific and technical instruments company's stock valued at $125,000 after purchasing an additional 317 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Trimble by 43.0% during the 1st quarter. Merit Financial Group LLC now owns 12,188 shares of the scientific and technical instruments company's stock valued at $800,000 after purchasing an additional 3,665 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Trimble during the 1st quarter valued at about $105,000. Finally, Congress Asset Management Co. boosted its position in shares of Trimble by 2.5% during the 1st quarter. Congress Asset Management Co. now owns 153,636 shares of the scientific and technical instruments company's stock valued at $10,086,000 after purchasing an additional 3,747 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Raymond James Financial reaffirmed 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. Berenberg Bank set a $95.00 price target on Trimble and gave the stock a "buy" rating in a research note on Friday. Finally, Oppenheimer upped their price target on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $91.22.

Trimble Trading Up 0.6%

NASDAQ TRMB opened at $80.72 on Friday. The stock's 50-day simple moving average is $81.79 and its two-hundred day simple moving average is $73.99. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.21 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 3.31 and a beta of 1.65.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. Research analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,881 shares of company stock valued at $19,066,393. 0.54% of the stock is currently owned by corporate insiders.

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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