Sequoia Financial Advisors LLC Increases Stock Position in Trimble Inc. $TRMB

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Trimble Inc. by 140.9% during Q2, now owning 9,277 shares valued at approximately $705,000.
• A number of institutional investors, including Allspring Global Investments and Vanguard Personalized Indexing Management, also significantly increased their stakes in Trimble during the same period, demonstrating strong institutional interest.
• Analysts have raised their price targets for Trimble, with JPMorgan and Barclays setting targets as high as $100.00, indicating a positive outlook for the company's stock performance.

Sequoia Financial Advisors LLC lifted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 140.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,277 shares of the scientific and technical instruments company's stock after buying an additional 5,426 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Trimble were worth $705,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Trimble by 65.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 70,854 shares of the scientific and technical instruments company's stock valued at $5,417,000 after buying an additional 28,135 shares in the last quarter. CWM LLC lifted its stake in shares of Trimble by 16.8% during the 2nd quarter. CWM LLC now owns 46,732 shares of the scientific and technical instruments company's stock valued at $3,551,000 after buying an additional 6,724 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Trimble during the 2nd quarter valued at approximately $1,634,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Trimble by 40.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,048 shares of the scientific and technical instruments company's stock valued at $2,587,000 after buying an additional 9,728 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of Trimble by 9.1% during the 2nd quarter. Aberdeen Group plc now owns 267,190 shares of the scientific and technical instruments company's stock valued at $20,301,000 after buying an additional 22,229 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $77.40 on Friday. The company's fifty day moving average price is $80.70 and its 200-day moving average price is $74.69. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 66.72, a PEG ratio of 3.18 and a beta of 1.65. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The firm had revenue of $856.50 million for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. On average, equities research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Trimble

In other news, Director James Calvin Dalton sold 609 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the transaction, the director owned 13,809 shares of the company's stock, valued at $1,137,999.69. This represents a 4.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at $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 224,321 shares of company stock valued at $18,677,518 in the last quarter. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Barclays began coverage on shares of Trimble in a report on Tuesday, October 7th. They set an "overweight" rating and a $100.00 target price on the stock. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the stock a "buy" rating in a report on Friday, October 3rd. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Trimble has a consensus rating of "Buy" and a consensus target price of $92.10.

Trimble Company 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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