Trimble Inc. $TRMB Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,215,602 shares of the scientific and technical instruments company’s stock after purchasing an additional 186,271 shares during the quarter. Legal & General Group Plc owned approximately 0.93% of Trimble worth $168,341,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. MAI Capital Management boosted its stake in Trimble by 4.7% in the 2nd quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after buying an additional 126 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Trimble by 14.1% during the second quarter. JPMorgan Chase & Co. now owns 1,936,439 shares of the scientific and technical instruments company’s stock worth $147,135,000 after purchasing an additional 238,940 shares during the period. DNB Asset Management AS raised its stake in Trimble by 2.6% during the second quarter. DNB Asset Management AS now owns 50,174 shares of the scientific and technical instruments company’s stock worth $3,812,000 after purchasing an additional 1,276 shares during the period. Telemark Asset Management LLC boosted its holdings in shares of Trimble by 20.0% in the 2nd quarter. Telemark Asset Management LLC now owns 300,000 shares of the scientific and technical instruments company’s stock valued at $22,794,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Trimble by 8.0% during the 2nd quarter. Swiss National Bank now owns 744,000 shares of the scientific and technical instruments company’s stock valued at $56,529,000 after buying an additional 55,300 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.50, for a total value of $596,250.00. Following the transaction, the chief executive officer directly owned 84,879 shares of the company’s stock, valued at $6,747,880.50. This represents a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Calvin Dalton sold 609 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the sale, the director directly owned 13,809 shares of the company’s stock, valued at $1,137,999.69. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,692 shares of company stock worth $1,954,986. Company insiders own 0.54% of the company’s stock.

Trimble Trading Up 3.0%

TRMB opened at $77.03 on Monday. The firm’s 50 day moving average is $79.40 and its 200-day moving average is $78.21. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $18.33 billion, a P/E ratio of 66.41, a P/E/G ratio of 3.26 and a beta of 1.66.

Trimble (NASDAQ:TRMB) last announced its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. The business had revenue of $856.50 million during the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company started coverage on Trimble in a research report on Thursday, November 13th. They issued an “overweight” rating and a $94.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Oppenheimer reissued an “outperform” rating and set a $102.00 target price on shares of Trimble in a research report on Thursday, November 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Finally, Zacks Research raised shares of Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $94.18.

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.