Trimble Inc. $TRMB Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 12.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 259,305 shares of the scientific and technical instruments company's stock after selling 35,536 shares during the period. Allianz Asset Management GmbH owned 0.11% of Trimble worth $19,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MAI Capital Management boosted its holdings in shares of Trimble by 6.6% during the 1st quarter. MAI Capital Management now owns 2,684 shares of the scientific and technical instruments company's stock worth $176,000 after purchasing an additional 165 shares during the last quarter. Horizon Investments LLC boosted its holdings in shares of Trimble by 5.6% during the 1st quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock worth $232,000 after purchasing an additional 188 shares during the last quarter. CW Advisors LLC raised its position in shares of Trimble by 1.9% during 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 buying an additional 207 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Trimble by 1.0% during 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 buying an additional 210 shares during the period. Finally, V Square Quantitative Management LLC raised its position in shares of Trimble by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 7,181 shares of the scientific and technical instruments company's stock valued at $546,000 after buying an additional 210 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the topic of several analyst reports. Barclays initiated coverage on shares of Trimble in a research report on Tuesday, October 7th. They set an "overweight" rating and a $100.00 price target on the stock. JPMorgan Chase & Co. lifted 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. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. 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. Finally, Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $92.10.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the company'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 transaction, the vice president owned 406 shares in the company, valued at $33,186.44. This represents a 94.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Calvin Dalton sold 609 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares of the company's stock, valued at $1,137,999.69. The trade was a 4.22% 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 worth $18,677,518 over the last 90 days. Corporate insiders own 0.54% of the company's stock.

Trimble Stock Down 0.6%

Shares of NASDAQ TRMB opened at $77.40 on Monday. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 66.72, a PEG ratio of 3.18 and a beta of 1.65. 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 52-week low of $52.91 and a 52-week high of $87.50. The business's 50 day moving average is $80.70 and its two-hundred day moving average is $74.79.

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

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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