Trimble Inc. $TRMB Shares Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its position in Trimble Inc. by 90.9%, owning 7,309 shares valued at approximately $480,000 after acquiring an additional 3,480 shares in the first quarter.
• Trimble reported quarterly earnings of $0.71 EPS, surpassing estimates of $0.63, with a revenue of $875.70 million compared to expectations of $835.81 million.
• Wall Street analysts have raised their price targets for Trimble, with JPMorgan and Oppenheimer setting targets as high as $96.00 and $94.00 respectively, indicating a positive outlook for the stock.

Vident Advisory LLC grew its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 90.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,309 shares of the scientific and technical instruments company's stock after acquiring an additional 3,480 shares during the period. Vident Advisory LLC's holdings in Trimble were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Central Pacific Bank Trust Division boosted its holdings in 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 period. Putney Financial Group LLC purchased a new position in shares of Trimble in the 4th quarter valued at about $51,000. State of Wyoming acquired a new position in shares of Trimble during the first quarter worth about $58,000. Farther Finance Advisors LLC increased its stake in shares of Trimble by 153.5% during the first 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 raised its holdings in Trimble by 64.7% in the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after acquiring an additional 453 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Performance

NASDAQ TRMB traded up $0.10 on Wednesday, reaching $80.16. The stock had a trading volume of 1,428,082 shares, compared to its average volume of 1,569,031. The stock has a market cap of $19.08 billion, a P/E ratio of 69.10, a price-to-earnings-growth ratio of 3.34 and a beta of 1.66. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The business's 50-day moving average price is $81.71 and its 200 day moving average price is $72.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly 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. The firm had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Trimble's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, equities analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Trimble news, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the transaction, the vice president directly owned 21,001 shares of the company's stock, valued at approximately $1,680,080. The trade was a 6.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the sale, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,992 shares of company stock valued at $18,579,506 in the last quarter. 0.54% of the stock is currently owned by insiders.

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.