Neuberger Berman Group LLC Grows Stock Position in Trimble Inc. (NASDAQ:TRMB)

Neuberger Berman Group LLC raised its holdings in Trimble Inc. (NASDAQ:TRMB) by 46.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,262,277 shares of the scientific and technical instruments company’s stock after buying an additional 402,116 shares during the period. Neuberger Berman Group LLC owned about 0.50% of Trimble worth $103,157,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TRMB. ARK Investment Management LLC raised its stake in Trimble by 87.1% in the second quarter. ARK Investment Management LLC now owns 5,258,393 shares of the scientific and technical instruments company’s stock valued at $430,294,000 after buying an additional 2,448,144 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in Trimble by 247.4% in the second quarter. Nikko Asset Management Americas Inc. now owns 3,237,885 shares of the scientific and technical instruments company’s stock valued at $262,269,000 after buying an additional 2,305,873 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Trimble by 72.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,861,205 shares of the scientific and technical instruments company’s stock valued at $397,792,000 after buying an additional 2,048,753 shares in the last quarter. Geode Capital Management LLC raised its stake in Trimble by 46.7% in the first quarter. Geode Capital Management LLC now owns 4,541,210 shares of the scientific and technical instruments company’s stock valued at $352,384,000 after buying an additional 1,445,343 shares in the last quarter. Finally, Select Equity Group L.P. acquired a new stake in Trimble in the first quarter valued at $81,188,000. Institutional investors own 90.08% of the company’s stock.

In related news, Director Steven W. Berglund sold 54,500 shares of the firm’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $93.65, for a total transaction of $5,103,925.00. Following the transaction, the director now owns 84,195 shares of the company’s stock, valued at $7,884,861.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Bryn Fosburgh sold 3,260 shares of the firm’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $93.65, for a total value of $305,299.00. Following the transaction, the vice president now directly owns 5,153 shares in the company, valued at approximately $482,578.45. The disclosure for this sale can be found here. Insiders have sold 323,510 shares of company stock worth $29,236,572 in the last quarter. Insiders own 0.48% of the company’s stock.

Separately, Morgan Stanley cut Trimble from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $80.00 to $74.00 in a research note on Thursday, September 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $69.20.

TRMB opened at $81.09 on Thursday. The business’s 50-day simple moving average is $89.22 and its 200-day simple moving average is $83.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.28. Trimble Inc. has a one year low of $47.19 and a one year high of $96.49. The stock has a market capitalization of $20.40 billion, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 4.32 and a beta of 1.53.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, August 4th. The scientific and technical instruments company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.12. Trimble had a return on equity of 15.69% and a net margin of 15.01%. The business had revenue of $945.30 million for the quarter, compared to analysts’ expectations of $870.23 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts forecast that Trimble Inc. will post 2.17 EPS for the current fiscal year.

Trimble Profile

Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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