Swedbank AB Raises Stake in Trimble Inc. $TRMB

Key Points

• Swedbank AB increased its holdings in Trimble Inc. by 7.9%, acquiring an additional 21,411 shares, bringing its total ownership to 292,283 shares valued at approximately $22.2 million.
• Several institutional investors, including Vanguard Group and UBS AM, have also expanded their holdings in Trimble, indicating strong institutional interest with 93.21% of the stock owned by hedge funds and other institutional investors.
• CEO Robert G. Painter sold 115,781 shares at an average price of $82.83, leading to a 50.20% decrease in his ownership stake in the company.

Swedbank AB grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,283 shares of the scientific and technical instruments company's stock after buying an additional 21,411 shares during the period. Swedbank AB owned 0.12% of Trimble worth $22,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in shares of Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after buying an additional 943 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Trimble by 6.0% during the 1st quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock valued at $522,000 after acquiring an additional 452 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock worth $2,355,000 after purchasing an additional 2,397 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock worth $2,793,000 after purchasing an additional 4,185 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Trimble by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock valued at $346,000 after purchasing an additional 1,059 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Trading Down 0.7%

NASDAQ:TRMB traded down $0.58 during mid-day trading on Tuesday, reaching $81.58. 409,939 shares of the company's stock traded hands, compared to its average volume of 1,555,581. The company has a 50 day moving average price of $82.07 and a 200-day moving average price of $73.26. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 70.40, a PEG ratio of 3.40 and a beta of 1.66. 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 Inc. has a 12-month low of $52.91 and a 12-month high of $87.50.

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, topping analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm's revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. On average, sell-side analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $90.75.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of the business's 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at $33,186.44. The trade was 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.