Nordea Investment Management AB Boosts Stock Position in Trimble Inc. $TRMB

Nordea Investment Management AB boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,386 shares of the scientific and technical instruments company’s stock after buying an additional 2,048 shares during the quarter. Nordea Investment Management AB’s holdings in Trimble were worth $1,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC increased its holdings in Trimble by 30.1% in 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 acquiring an additional 943 shares during the last quarter. CX Institutional boosted 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 period. DAVENPORT & Co LLC boosted its position 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 purchasing an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company’s stock worth $2,355,000 after purchasing an additional 2,397 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Trimble by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company’s stock valued at $2,793,000 after acquiring an additional 4,185 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were 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 of the company’s stock, valued at approximately $33,186.44. The trade was a 94.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $75.65, for a total transaction of $567,375.00. Following the transaction, the chief executive officer owned 92,379 shares in the company, valued at $6,988,471.35. This represents a 7.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 224,321 shares of company stock valued at $18,677,518 in the last quarter. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRMB. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Oppenheimer upped their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $92.10.

Trimble Price Performance

Shares of Trimble stock opened at $79.10 on Thursday. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 68.19, a price-to-earnings-growth ratio of 3.27 and a beta of 1.65. The company has a fifty day moving average of $80.43 and a 200-day moving average of $75.01. Trimble Inc. has a 52-week low of $52.91 and a 52-week 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.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share 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%. Equities research analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

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.