Trimble Inc. $TRMB Shares Purchased by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System increased its stake in Trimble Inc. by 11.5%, owning 221,829 shares valued at approximately $16.9 million after acquiring an additional 22,874 shares in the second quarter.
• Insider trading activity included VP Christopher F. Keating selling 7,365 shares and CEO Robert G. Painter selling 7,500 shares, both leading to significant decreases in their ownership of the company.
• Equities analysts have a generally positive outlook on Trimble, with Berenberg Bank setting a $95.00 price target and a mix of ratings, including two Strong Buy ratings and one Hold rating among nine analysts.

New York State Teachers Retirement System boosted its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 11.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 221,829 shares of the scientific and technical instruments company's stock after purchasing an additional 22,874 shares during the period. New York State Teachers Retirement System owned about 0.09% of Trimble worth $16,855,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Davidson Investment Advisors increased its holdings in Trimble by 0.4% in the 2nd quarter. Davidson Investment Advisors now owns 256,470 shares of the scientific and technical instruments company's stock valued at $19,487,000 after purchasing an additional 957 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in Trimble in the 2nd quarter valued at approximately $228,000. NorthRock Partners LLC acquired a new stake in Trimble in the 2nd quarter valued at approximately $243,000. Sequoia Financial Advisors LLC boosted its position in Trimble by 140.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,277 shares of the scientific and technical instruments company's stock valued at $705,000 after buying an additional 5,426 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Trimble by 65.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 70,854 shares of the scientific and technical instruments company's stock valued at $5,417,000 after buying an additional 28,135 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Activity at Trimble

In related news, VP Christopher F. Keating sold 7,365 shares of the business's stock in a transaction 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 directly owned 406 shares of the company's stock, valued at $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Painter sold 7,500 shares of the business's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $75.65, for a total transaction of $567,375.00. Following the completion of the sale, the chief executive officer directly owned 92,379 shares of the company's stock, valued at approximately $6,988,471.35. This trade represents a 7.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,321 shares of company stock valued at $18,677,518 over the last ninety days. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on TRMB shares. Berenberg Bank set a $95.00 price target on shares of Trimble and gave the company a "buy" rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer raised their price target 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. Weiss Ratings reissued a "hold (c)" rating on shares of Trimble in a research report on Wednesday, October 8th. Finally, Barclays started coverage on shares of Trimble in a research report on Tuesday, October 7th. They issued an "overweight" rating and a $100.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Trimble currently has an average rating of "Buy" and an average price target of $92.10.

Trimble Price Performance

Trimble stock opened at $77.40 on Friday. The stock has a market cap of $18.42 billion, a P/E ratio of 66.72, a price-to-earnings-growth ratio of 3.20 and a beta of 1.65. The company has a fifty day simple moving average of $80.70 and a 200-day simple moving average of $74.63. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $856.50 million during the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Equities analysts expect that Trimble Inc. will post 2.37 EPS 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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