Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Trimble Inc (NASDAQ:TRMB) by 0.7% during the 1st quarter, HoldingsChannel reports. The fund owned 1,595,304 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,509 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Trimble were worth $64,450,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. ETRADE Capital Management LLC raised its stake in shares of Trimble by 3.3% in the 4th quarter. ETRADE Capital Management LLC now owns 22,293 shares of the scientific and technical instruments company’s stock valued at $734,000 after purchasing an additional 718 shares during the period. Impax Asset Management Group plc raised its stake in shares of Trimble by 0.8% in the 4th quarter. Impax Asset Management Group plc now owns 5,559,309 shares of the scientific and technical instruments company’s stock valued at $182,957,000 after purchasing an additional 46,661 shares during the period. Nordea Investment Management AB raised its stake in shares of Trimble by 37.1% in the 4th quarter. Nordea Investment Management AB now owns 683,744 shares of the scientific and technical instruments company’s stock valued at $22,502,000 after purchasing an additional 184,974 shares during the period. Raymond James & Associates raised its stake in shares of Trimble by 14.6% in the 4th quarter. Raymond James & Associates now owns 39,764 shares of the scientific and technical instruments company’s stock valued at $1,309,000 after purchasing an additional 5,076 shares during the period. Finally, Parnassus Investments CA raised its stake in shares of Trimble by 41.6% in the 4th quarter. Parnassus Investments CA now owns 3,285,552 shares of the scientific and technical instruments company’s stock valued at $108,128,000 after purchasing an additional 964,512 shares during the period. Hedge funds and other institutional investors own 91.30% of the company’s stock.
NASDAQ:TRMB opened at $40.66 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 1.05. The stock has a market capitalization of $10.23 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.08 and a beta of 2.15. Trimble Inc has a 52-week low of $29.75 and a 52-week high of $44.55.
Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $804.50 million for the quarter, compared to the consensus estimate of $808.58 million. Trimble had a return on equity of 16.15% and a net margin of 9.05%. Trimble’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. On average, analysts anticipate that Trimble Inc will post 1.85 earnings per share for the current year.
Several research firms have issued reports on TRMB. ValuEngine downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. BidaskClub downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, Zacks Investment Research raised Trimble from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.33.
In related news, Director Kaigham Gabriel sold 3,500 shares of Trimble stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $41.03, for a total value of $143,605.00. Following the sale, the director now owns 8,862 shares of the company’s stock, valued at $363,607.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven W. Berglund sold 100,000 shares of Trimble stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $42.15, for a total value of $4,215,000.00. Following the completion of the sale, the chief executive officer now directly owns 354,144 shares in the company, valued at approximately $14,927,169.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 248,198 shares of company stock worth $10,186,582. 0.39% of the stock is owned by company insiders.
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 operates in 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; applications for sub-contractors and trades; and integrated workplace management services software.
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