Mission Wealth Management LP Lowers Stock Position in Trimble Inc. $TRMB

Mission Wealth Management LP lessened its position in shares of Trimble Inc. (NASDAQ:TRMB) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,845 shares of the scientific and technical instruments company’s stock after selling 654 shares during the period. Mission Wealth Management LP’s holdings in Trimble were worth $1,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TRMB. Brighton Jones LLC purchased a new stake in shares of Trimble during the 4th quarter worth about $211,000. Allspring Global Investments Holdings LLC grew its stake in Trimble by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company’s stock worth $2,793,000 after buying an additional 4,185 shares during the period. DAVENPORT & Co LLC grew its stake in Trimble by 6.0% during the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company’s stock worth $522,000 after buying an additional 452 shares during the period. Teacher Retirement System of Texas boosted its position in Trimble by 5.2% during the 1st quarter. Teacher Retirement System of Texas now owns 77,360 shares of the scientific and technical instruments company’s stock worth $5,079,000 after purchasing an additional 3,796 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in Trimble by 30.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company’s stock worth $268,000 after purchasing an additional 943 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 0.2%

Shares of TRMB opened at $79.57 on Tuesday. The company has a market capitalization of $18.94 billion, a P/E ratio of 68.60, a P/E/G ratio of 3.26 and a beta of 1.65. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. 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 stock has a 50-day moving average price of $80.17 and a 200 day moving average price of $76.59.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The company had revenue of $856.50 million during the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%. Sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at $9,515,427.57. This represents a 50.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the transaction, the vice president directly owned 406 shares in the company, valued at $33,186.44. The trade was a 94.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 224,321 shares of company stock worth $18,677,518 in the last ninety days. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRMB shares. Berenberg Bank set a $95.00 price target on shares of Trimble and gave the stock a “buy” rating in a research report on Friday, October 3rd. Barclays initiated coverage on Trimble in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Oppenheimer upped their price target on Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $92.10.

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.