Swedbank AB Buys 21,411 Shares of 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 lifted its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 7.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 292,283 shares of the scientific and technical instruments company's stock after purchasing an additional 21,411 shares during the quarter. Swedbank AB owned 0.12% of Trimble worth $22,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Trimble by 2.0% in the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Trimble by 26.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock valued at $458,113,000 after purchasing an additional 1,445,851 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Trimble by 9.7% in the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock valued at $252,132,000 after purchasing an additional 339,750 shares in the last quarter. Boston Partners grew its holdings in shares of Trimble by 7.9% in the first quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company's stock valued at $237,884,000 after purchasing an additional 267,829 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Trimble by 19.8% in the first quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company's stock valued at $202,526,000 after purchasing an additional 510,509 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trimble

In other news, CEO Robert G. Painter sold 115,781 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were 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 in the company, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,992 shares of company stock worth $18,579,506. 0.54% of the stock is owned by insiders.

Trimble Stock Performance

Shares of Trimble stock opened at $82.78 on Friday. The company has a market capitalization of $19.70 billion, a PE ratio of 71.36, a P/E/G ratio of 3.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The company has a 50-day simple moving average of $82.03 and a two-hundred day simple moving average of $73.13. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (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 firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Research analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Ratings Changes

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

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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