Trimble Inc. $TRMB is Select Equity Group L.P.'s 10th Largest Position

Key Points

• Select Equity Group L.P. reduced its stake in Trimble Inc. by 9.1%, with the stock making up 2.6% of its investment portfolio, making it the 10th largest holding.
• Trimble reported earnings of $0.71 per share, exceeding analysts' estimates, and had a revenue of $875.70 million for the last quarter.
• Several analysts raised their target price for Trimble stock, with Raymond James setting a new target at $93.00 and Oppenheimer increasing theirs to $94.00.

Select Equity Group L.P. cut its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,229,816 shares of the scientific and technical instruments company's stock after selling 924,525 shares during the period. Trimble accounts for 2.6% of Select Equity Group L.P.'s investment portfolio, making the stock its 10th largest holding. Select Equity Group L.P. owned approximately 3.87% of Trimble worth $605,937,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. MAI Capital Management increased its position in shares of Trimble by 6.6% in the 1st quarter. MAI Capital Management now owns 2,684 shares of the scientific and technical instruments company's stock valued at $176,000 after purchasing an additional 165 shares during the last quarter. Horizon Investments LLC increased its position in shares of Trimble by 5.6% in the 1st quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock valued at $232,000 after purchasing an additional 188 shares during the last quarter. CW Advisors LLC increased its position in shares of Trimble by 1.9% in the 1st quarter. CW Advisors LLC now owns 11,172 shares of the scientific and technical instruments company's stock valued at $733,000 after purchasing an additional 207 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Trimble by 1.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock valued at $1,386,000 after purchasing an additional 210 shares during the last quarter. Finally, Simmons Bank increased its position in shares of Trimble by 1.4% in the 1st quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock valued at $1,050,000 after purchasing an additional 214 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRMB. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer increased their target price 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. increased their target price on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat.com, Trimble presently has an average rating of "Buy" and an average price target of $90.50.

Trimble Stock Performance

NASDAQ:TRMB traded down $1.23 during trading hours on Tuesday, reaching $80.06. 1,086,582 shares of the company's stock were exchanged, compared to its average volume of 1,430,124. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 3.34 and a beta of 1.66. The company has a 50-day moving average of $81.71 and a 200 day moving average of $72.53. 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 Inc. has a 1-year low of $52.91 and a 1-year high of $87.50.

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

Insider Buying and Selling at Trimble

In related news, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief executive officer owned 114,879 shares of the company's stock, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,992 shares of company stock worth $18,579,506 in the last quarter. 0.54% of the stock is currently owned by company 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.