Chevy Chase Trust Holdings LLC Sells 2,886 Shares of Trimble Inc. $TRMB

Chevy Chase Trust Holdings LLC lessened its holdings in Trimble Inc. (NASDAQ:TRMB) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 126,020 shares of the scientific and technical instruments company’s stock after selling 2,886 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Trimble were worth $9,575,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Trimble by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock valued at $1,988,450,000 after buying an additional 582,124 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Trimble by 26.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock valued at $458,113,000 after buying an additional 1,445,851 shares during the last quarter. Invesco Ltd. raised its holdings in Trimble by 9.7% in the 1st quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company’s stock valued at $252,132,000 after buying an additional 339,750 shares during the last quarter. Boston Partners raised its holdings in Trimble by 7.9% in the 1st quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company’s stock valued at $237,884,000 after buying an additional 267,829 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Trimble by 19.8% in the 1st quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company’s stock valued at $202,526,000 after buying an additional 510,509 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $75.65, for a total value of $567,375.00. Following the completion of the sale, the chief executive officer owned 92,379 shares of the company’s stock, valued at approximately $6,988,471.35. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the sale, the vice president directly owned 406 shares of the company’s stock, valued at approximately $33,186.44. The trade was a 94.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 224,321 shares of company stock valued at $18,677,518 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Trimble Stock Performance

Shares of TRMB stock opened at $77.40 on Monday. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 66.72, a price-to-earnings-growth ratio of 3.18 and a beta of 1.65. 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 50 day moving average of $80.70 and a 200-day moving average of $74.79.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The company 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%. On average, equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

TRMB has been the subject of several analyst reports. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Barclays initiated coverage on shares of Trimble in a report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price target for the company. Oppenheimer raised their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $92.10.

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.