3,915 Shares in Trimble Inc. $TRMB Acquired by Wedmont Private Capital

Key Points

• Wedmont Private Capital acquired a new stake in Trimble Inc. worth approximately $312,000 by purchasing 3,915 shares during the second quarter of the year.
• Analysts have issued positive ratings for Trimble stock, with JPMorgan Chase raising the price target to $98.00 and Raymond James increasing their target from $85.00 to $93.00.
• In the most recent quarter, Trimble reported an earnings per share of $0.71, surpassing estimates, and recorded revenues of $875.70 million, up 0.6% year-over-year.

Wedmont Private Capital purchased a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,915 shares of the scientific and technical instruments company's stock, valued at approximately $312,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Trimble during the fourth quarter worth about $211,000. Royal Bank of Canada increased its position in Trimble by 67.3% during the fourth quarter. Royal Bank of Canada now owns 344,735 shares of the scientific and technical instruments company's stock worth $24,358,000 after acquiring an additional 138,689 shares during the period. Vident Advisory LLC acquired a new stake in shares of Trimble in the fourth quarter valued at approximately $271,000. Woodline Partners LP acquired a new stake in shares of Trimble in the fourth quarter valued at approximately $1,036,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Trimble by 26.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 114,446 shares of the scientific and technical instruments company's stock valued at $8,087,000 after buying an additional 23,976 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRMB. JPMorgan Chase & Co. upped their target price on Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday. Raymond James Financial reiterated an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. 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 note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus price target of $90.75.

Trimble Trading Down 0.8%

TRMB traded down $0.63 during trading on Monday, hitting $82.15. The company's stock had a trading volume of 1,167,770 shares, compared to its average volume of 1,397,378. The firm has a market capitalization of $19.55 billion, a P/E ratio of 70.82, a PEG ratio of 3.40 and a beta of 1.66. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The stock's fifty day moving average price is $82.07 and its 200-day moving average price is $73.26. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

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 for the quarter, topping the consensus estimate 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 business's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. Analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 609 shares of the 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 transaction, the director owned 13,809 shares of the company's stock, valued at $1,137,999.69. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark David Schwartz sold 1,404 shares of the 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 completion of the transaction, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock worth $19,181,521 in the last ninety days. Insiders own 0.54% of the company's stock.

Trimble 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.