Southeast Asset Advisors LLC Sells 14,703 Shares of Trimble Inc. $TRMB

Key Points

• Southeast Asset Advisors LLC reduced its stake in Trimble Inc. by 22.2% in Q1, selling 14,703 shares, which left them with 51,504 shares valued at $3,381,000.
• VPs Jennifer Allison and Mark David Schwartz sold a combined 4,560 shares at an average price of $80.00, indicating significant insider transactions, with insiders selling a total of 222,383 shares in the last quarter.
• Trimble Inc. reported Q2 earnings of $0.71 per share, exceeding analyst estimates by $0.08, while revenue totaled $875.70 million, surpassing expectations and showing a 0.6% year-over-year growth.

Southeast Asset Advisors LLC lessened its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 22.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,504 shares of the scientific and technical instruments company's stock after selling 14,703 shares during the quarter. Southeast Asset Advisors LLC's holdings in Trimble were worth $3,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRMB. Central Pacific Bank Trust Division grew its stake in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Putney Financial Group LLC acquired a new position in Trimble during the fourth quarter worth $51,000. Quarry LP raised its position in Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after acquiring an additional 402 shares in the last quarter. Farther Finance Advisors LLC raised its position in Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after acquiring an additional 591 shares in the last quarter. Finally, Friedenthal Financial lifted its stake in Trimble by 64.7% in the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after acquiring an additional 453 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Performance

Shares of TRMB traded up $0.03 during midday trading on Thursday, reaching $82.21. 957,221 shares of the stock were exchanged, compared to its average volume of 1,579,364. The stock's 50 day simple moving average is $80.60 and its 200 day simple moving average is $72.14. The company has a market cap of $19.56 billion, a P/E ratio of 70.87, a PEG ratio of 3.34 and a beta of 1.69. 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.

Trimble (NASDAQ:TRMB - Get Free Report) last released 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 net margin of 8.02% and a return on equity of 10.24%. The business 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 company posted $0.62 earnings per share. Trimble's revenue was up .6% compared to the same quarter last year. On average, sell-side analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the sale, the vice president directly owned 22,405 shares in the company, valued at $1,747,590. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,383 shares of company stock valued at $18,529,318. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRMB. JPMorgan Chase & Co. upped their target price on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Piper Sandler reissued an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer raised their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Raymond James Financial reissued an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $90.50.

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.