Trimble Inc. $TRMB Shares Bought by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB increased its position in Trimble Inc. by 177.8% during the second quarter, acquiring a total of 74,457 shares valued at approximately $5.7 million.
• A significant portion of Trimble's stock (93.21%) is now owned by institutional investors, indicating strong institutional interest in the company.
• Trimble's recent quarterly earnings reported an EPS of $0.71, surpassing analysts' estimates, with revenue hitting $875.70 million for the quarter.

MassMutual Private Wealth & Trust FSB lifted its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 177.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,457 shares of the scientific and technical instruments company's stock after buying an additional 47,659 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Trimble were worth $5,657,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division lifted its position in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Trimble in the 1st quarter valued at $45,000. Putney Financial Group LLC purchased a new stake in Trimble in the 4th quarter valued at $51,000. State of Wyoming purchased a new stake in Trimble in the 1st quarter valued at $58,000. Finally, Farther Finance Advisors LLC raised its position in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after purchasing an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction on Thursday, July 10th. The stock was 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 of the company's stock, valued at approximately $1,680,080. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,992 shares of company stock worth $18,579,506 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRMB. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, Trimble presently has a consensus rating of "Buy" and a consensus price target of $90.75.

Trimble Trading Up 1.4%

Shares of TRMB stock traded up $1.12 during trading hours on Friday, hitting $82.78. 2,726,034 shares of the company were exchanged, compared to its average volume of 1,305,062. The firm has a market cap of $19.70 billion, a PE ratio of 71.36, a PEG ratio of 3.40 and a beta of 1.66. Trimble Inc. has a 1 year low of $52.91 and a 1 year 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 firm has a fifty day moving average of $82.03 and a 200 day moving average of $73.13.

Trimble (NASDAQ:TRMB - Get Free Report) last posted 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 firm 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 company earned $0.62 EPS. The company's revenue was up .6% on a year-over-year basis. Analysts expect that Trimble Inc. will post 2.37 earnings per share for the current 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.