Voya Investment Management LLC Decreases Stock Position in Trimble Inc. $TRMB

Key Points

• Voya Investment Management LLC reduced its position in Trimble Inc. by 14.9%, resulting in 80,475 shares valued at approximately $5.28 million.
• Analyst ratings for Trimble have been optimistic, with Raymond James increasing its target price to $93.00 and JPMorgan Chase raising theirs to $96.00.
• Trimble reported quarterly earnings of $0.71 EPS, exceeding expectations, with revenues of $875.70 million, signaling a year-over-year growth.

Voya Investment Management LLC cut its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,475 shares of the scientific and technical instruments company's stock after selling 14,081 shares during the quarter. Voya Investment Management LLC's holdings in Trimble were worth $5,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. MAI Capital Management boosted its position in 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 valued at $176,000 after acquiring an additional 165 shares in the last quarter. Horizon Investments LLC raised its stake in 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 valued at $232,000 after buying an additional 188 shares during the last quarter. CW Advisors LLC raised its stake in 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 last quarter. Oregon Public Employees Retirement Fund raised its stake in 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 last quarter. Finally, Simmons Bank increased its stake in shares of Trimble by 1.4% in the 1st quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock worth $1,050,000 after purchasing an additional 214 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Price Performance

NASDAQ TRMB opened at $81.66 on Friday. 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 firm's 50 day moving average price is $81.97 and its 200-day moving average price is $73.00. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company has a market cap of $19.43 billion, a PE ratio of 70.40, a P/E/G ratio of 3.27 and a beta of 1.66.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. Sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares of the company's stock, valued at approximately $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer directly owned 114,879 shares of the company's stock, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 222,992 shares of company stock worth $18,579,506. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TRMB shares. Raymond James Financial reaffirmed 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. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Oppenheimer upped their target price 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. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $90.50.

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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