Trimble Inc. $TRMB Position Trimmed by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its holdings in Trimble Inc. by 9.9% in Q2, now owning approximately 0.06% of the company worth about $10.5 million.
• Insider transactions included VP Christopher F. Keating selling 7,365 shares at $81.74, resulting in a 94.78% decrease in his position.
• Recent analyst reports include target price increases from Oppenheimer and JPMorgan Chase, with an average target price of $90.75 and most analysts giving the stock a "Buy" rating.

Congress Asset Management Co. trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,370 shares of the scientific and technical instruments company's stock after selling 15,266 shares during the period. Congress Asset Management Co. owned about 0.06% of Trimble worth $10,513,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Cadent Capital Advisors LLC boosted its holdings in Trimble by 26.9% during the second quarter. Cadent Capital Advisors LLC now owns 7,608 shares of the scientific and technical instruments company's stock worth $578,000 after buying an additional 1,615 shares in the last quarter. Steph & Co. boosted its holdings in Trimble by 592.0% during the second quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 592 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Trimble during the second quarter worth approximately $2,619,000. TD Private Client Wealth LLC boosted its holdings in Trimble by 5.1% during the second quarter. TD Private Client Wealth LLC now owns 5,688 shares of the scientific and technical instruments company's stock worth $432,000 after buying an additional 278 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Trimble by 2.1% during the second quarter. Public Employees Retirement System of Ohio now owns 157,218 shares of the scientific and technical instruments company's stock worth $11,945,000 after buying an additional 3,288 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the sale, the vice president owned 406 shares in the company, valued at $33,186.44. This represents a 94.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Calvin Dalton sold 609 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the sale, the director owned 13,809 shares of the company's stock, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 230,357 shares of company stock worth $19,181,521. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRMB. Oppenheimer raised their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. 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 report on Friday, September 19th. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial restated an "outperform" rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $90.75.

Trimble Stock Up 1.6%

TRMB stock opened at $81.24 on Friday. Trimble Inc. has a 12-month low of $52.91 and a 12-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. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 70.04, a PEG ratio of 3.28 and a beta of 1.66. The company has a 50 day moving average of $82.05 and a two-hundred day moving average of $73.56.

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

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.

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