Amundi Sells 706,065 Shares of Trimble Inc. $TRMB

Key Points

• Amundi reduced its stake in Trimble Inc. by 45.3% in the first quarter, selling over 706,000 shares, which left them with approximately 0.36% of the company, valued at $52.2 million.
• Trimble Inc. reported an earnings per share of $0.71 for the last quarter, exceeding analyst expectations by $0.08, and generated a revenue of $875.7 million, surpassing estimates of $835.8 million.
• Equities analysts have shown optimism in Trimble's stock, with multiple firms increasing their price targets, bringing the consensus target to $90.50, reflecting a generally positive outlook for the company.

Amundi lowered its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 45.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 852,375 shares of the scientific and technical instruments company's stock after selling 706,065 shares during the period. Amundi owned approximately 0.36% of Trimble worth $52,176,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TRMB. Central Pacific Bank Trust Division grew its position in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares during the last quarter. Putney Financial Group LLC bought a new stake in Trimble in the 4th quarter valued at $51,000. State of Wyoming acquired a new position in Trimble in the 1st quarter valued at $58,000. Farther Finance Advisors LLC increased its position in Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares during the period. Finally, Friedenthal Financial lifted its holdings in shares of Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after buying an additional 453 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TRMB shares. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer lifted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $90.50.

Trimble Trading Down 1.5%

Shares of TRMB traded down $1.23 during mid-day trading on Tuesday, reaching $80.06. 1,086,582 shares of the company were exchanged, compared to its average volume of 1,430,124. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. 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 stock has a market capitalization of $19.05 billion, a PE ratio of 69.02, a PEG ratio of 3.34 and a beta of 1.66. The business has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $72.53.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its 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. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same quarter last year, the firm earned $0.62 earnings per share. Trimble's quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other Trimble news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction that occurred on 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 of the company's stock, valued at $230,560. This trade represents a 52.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director owned 13,809 shares in the company, 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 222,992 shares of company stock valued at $18,579,506 over the last ninety days. Company insiders own 0.54% of the company's stock.

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.