State of Alaska Department of Revenue Has $2.71 Million Holdings in Trimble Inc. (NASDAQ:TRMB)


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State of Alaska Department of Revenue decreased its stake in Trimble Inc. (NASDAQ:TRMB) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 40,650 shares of the scientific and technical instruments company’s stock after selling 2,040 shares during the period. State of Alaska Department of Revenue’s holdings in Trimble were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Trimble by 15.3% during the second quarter. FMR LLC now owns 6,802,721 shares of the scientific and technical instruments company’s stock valued at $293,810,000 after acquiring an additional 901,337 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Trimble by 83.3% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 718,521 shares of the scientific and technical instruments company’s stock valued at $34,990,000 after purchasing an additional 326,618 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Trimble by 93.8% in the 3rd quarter. ARK Investment Management LLC now owns 493,639 shares of the scientific and technical instruments company’s stock worth $24,040,000 after purchasing an additional 238,951 shares during the last quarter. Columbus Circle Investors acquired a new stake in shares of Trimble during the 3rd quarter worth about $11,453,000. Finally, Telemark Asset Management LLC grew its stake in Trimble by 133.3% during the third quarter. Telemark Asset Management LLC now owns 350,000 shares of the scientific and technical instruments company’s stock worth $17,045,000 after buying an additional 200,000 shares during the last quarter. 91.44% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:TRMB opened at $70.02 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.67 and a debt-to-equity ratio of 0.49. Trimble Inc. has a 1-year low of $20.01 and a 1-year high of $74.00. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 4.10 and a beta of 1.61. The business’s 50-day moving average price is $65.33 and its two-hundred day moving average price is $53.39.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $792.10 million for the quarter, compared to the consensus estimate of $720.09 million. Trimble had a net margin of 15.39% and a return on equity of 14.69%. Trimble’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. Sell-side analysts predict that Trimble Inc. will post 1.69 earnings per share for the current year.

A number of brokerages have recently weighed in on TRMB. Morgan Stanley raised their target price on Trimble from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, November 5th. BidaskClub upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 9th. Sanford C. Bernstein assumed coverage on shares of Trimble in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $61.00 price target on the stock. Zacks Investment Research cut shares of Trimble from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research report on Tuesday. Finally, Needham & Company LLC increased their price objective on Trimble from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Trimble currently has a consensus rating of “Buy” and an average target price of $52.40.

In other Trimble news, CEO Robert G. Painter sold 10,250 shares of the stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $60.23, for a total value of $617,357.50. Following the completion of the sale, the chief executive officer now directly owns 78,903 shares in the company, valued at $4,752,327.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James A. Kirkland sold 4,907 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $57.40, for a total value of $281,661.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,574 shares of company stock worth $2,640,843. Insiders own 0.66% of the company’s stock.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to improve or transform their work processes worldwide. It operates through four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; applications for sub-contractors and trades; and an integrated workplace management software.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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