Washington Capital Management Inc. Takes Position in Trimble Inc. $TRMB

Key Points

• Washington Capital Management Inc. acquired 5,100 shares of Trimble Inc. valued at approximately $387,000, indicating institutional interest in the company's stock.
• Trimble reported $0.71 earnings per share, surpassing analyst estimates of $0.63 and demonstrating year-over-year revenue growth.
• Stock analysts have upgraded Trimble with an average rating of "Buy"** and a consensus target price of $90.75, reflecting positive sentiment in the market.

Washington Capital Management Inc. acquired a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,100 shares of the scientific and technical instruments company's stock, valued at approximately $387,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. V Square Quantitative Management LLC increased its position in Trimble by 3.0% during the second quarter. V Square Quantitative Management LLC now owns 7,181 shares of the scientific and technical instruments company's stock worth $546,000 after purchasing an additional 210 shares during the last quarter. Genesis Private Wealth LLC increased its position in Trimble by 11.8% during the second quarter. Genesis Private Wealth LLC now owns 3,799 shares of the scientific and technical instruments company's stock worth $289,000 after purchasing an additional 402 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Trimble during the second quarter worth approximately $271,000. CX Institutional increased its position in Trimble by 11.7% during the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company's stock worth $536,000 after purchasing an additional 739 shares during the last quarter. Finally, Cadent Capital Advisors LLC increased its position in Trimble by 26.9% during the second quarter. Cadent Capital Advisors LLC now owns 7,608 shares of the scientific and technical instruments company's stock worth $578,000 after purchasing an additional 1,615 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Analyst Upgrades and Downgrades

TRMB has been the subject of several research analyst reports. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reissued an "outperform" rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Finally, Oppenheimer increased their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $90.75.

Trimble Price Performance

Shares of TRMB stock opened at $81.24 on Monday. The company has a market capitalization of $19.33 billion, a PE ratio of 70.04, a price-to-earnings-growth ratio of 3.33 and a beta of 1.66. The firm has a fifty day simple moving average of $82.05 and a 200-day simple moving average of $73.65. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50.

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, beating the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million during 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 business's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Equities research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 directly owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,357 shares of company stock valued at $19,181,521. Corporate insiders own 0.54% of the company's stock.

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.

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