Norris Perne & French LLP MI Has $27.14 Million Stock Position in Trimble Inc. $TRMB

Norris Perne & French LLP MI lessened its position in Trimble Inc. (NASDAQ:TRMB) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 332,362 shares of the scientific and technical instruments company’s stock after selling 7,710 shares during the period. Trimble makes up about 1.9% of Norris Perne & French LLP MI’s holdings, making the stock its 17th largest position. Norris Perne & French LLP MI owned 0.14% of Trimble worth $27,137,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in Trimble in the 2nd quarter valued at $34,000. Geneos Wealth Management Inc. lifted its stake in shares of Trimble by 55.4% in the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 169 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Trimble during the first quarter valued at about $45,000. Osterweis Capital Management Inc. increased its position in shares of Trimble by 5,790.0% during the second quarter. Osterweis Capital Management Inc. now owns 589 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 579 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Trimble in the 2nd quarter worth about $48,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TRMB shares. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. KeyCorp upgraded Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a report on Monday, December 15th. Wells Fargo & Company initiated coverage on Trimble in a research report on Thursday, November 13th. They set an “overweight” rating and a $94.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $102.00 price target on shares of Trimble in a report on Thursday, November 6th. Finally, Zacks Research upgraded Trimble from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Trimble currently has an average rating of “Buy” and a consensus price target of $96.67.

Trimble Stock Performance

Shares of TRMB opened at $80.20 on Monday. The stock has a 50 day moving average of $79.95 and a 200 day moving average of $79.96. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 54.93, a PEG ratio of 3.13 and a beta of 1.60. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The business had revenue of $856.50 million for the quarter. As a group, sell-side analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble announced that its Board of Directors has initiated a stock buyback plan on Friday, December 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 616 shares of Trimble stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $81.99, for a total value of $50,505.84. Following the sale, the director owned 13,193 shares of the company’s stock, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Phillip Sawarynski sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total value of $181,012.50. Following the completion of the transaction, the chief financial officer owned 25,684 shares in the company, valued at approximately $2,066,277.80. The trade was a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 27,084 shares of company stock worth $2,144,726. 0.54% of the stock is currently owned by corporate insiders.

Trimble Company Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.