Tokio Marine Asset Management Co. Ltd. Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Trimble Inc. (NASDAQ:TRMB) by 11.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 9,023 shares of the scientific and technical instruments company’s stock after acquiring an additional 929 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Trimble were worth $592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRMB. Central Pacific Bank Trust Division lifted its stake in Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock valued at $37,000 after buying an additional 355 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Trimble in the 4th quarter valued at approximately $51,000. Quarry LP lifted its stake in Trimble by 121.8% in the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 402 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 591 shares in the last quarter. Finally, Friedenthal Financial lifted its stake in Trimble by 64.7% in the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company’s stock valued at $76,000 after buying an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,156 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the sale, the vice president directly owned 2,882 shares in the company, valued at $230,560. This represents a 52.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark David Schwartz sold 1,404 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the sale, the vice president owned 21,001 shares of the company’s stock, valued at approximately $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,894 shares of company stock valued at $18,996,091. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TRMB shares. JPMorgan Chase & Co. upped their target price on Trimble from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Oppenheimer increased their price target on Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen raised Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Raymond James Financial reissued an “outperform” rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trimble presently has a consensus rating of “Buy” and an average target price of $90.50.

Trimble Trading Down 1.7%

TRMB stock opened at $82.24 on Friday. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 70.90, a PEG ratio of 3.43 and a beta of 1.69. 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 business has a fifty day simple moving average of $79.11 and a 200-day simple moving average of $71.77. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities research analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

About Trimble

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.