Main Street Research LLC Has $290,000 Stock Holdings in Trimble Inc. $TRMB

Main Street Research LLC trimmed its holdings in Trimble Inc. (NASDAQ:TRMB) by 45.4% during the second quarter, Holdings Channel reports. The firm owned 3,820 shares of the scientific and technical instruments company’s stock after selling 3,180 shares during the quarter. Main Street Research LLC’s holdings in Trimble were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRMB. Catalyst Capital Advisors LLC acquired a new position in shares of Trimble in the 2nd quarter valued at about $34,000. Flaharty Asset Management LLC acquired a new position in shares of Trimble in the 1st quarter valued at about $45,000. Ameritas Advisory Services LLC acquired a new position in shares of Trimble in the 2nd quarter valued at about $48,000. Steph & Co. lifted its stake in shares of Trimble by 592.0% in the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after purchasing an additional 592 shares during the period. Finally, State of Wyoming acquired a new position in shares of Trimble in the 1st quarter valued at about $58,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Performance

Shares of Trimble stock opened at $78.60 on Wednesday. The company has a market cap of $18.70 billion, a PE ratio of 67.76, a price-to-earnings-growth ratio of 3.26 and a beta of 1.66. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The business has a 50 day moving average price of $80.12 and a 200-day moving average price of $76.74. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

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

Wall Street Analyst Weigh In

TRMB has been the topic of a number of recent analyst reports. Barclays initiated coverage on Trimble in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price objective on the stock. Oppenheimer upped 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. 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 note on Thursday, August 7th. Berenberg Bank set a $95.00 price target on Trimble and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $92.10.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was 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 directly owned 92,379 shares of the company’s stock, valued at $6,988,471.35. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Calvin Dalton sold 609 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares of the company’s stock, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 224,321 shares of company stock valued at $18,677,518 over the last ninety days. 0.54% of the stock is currently owned by insiders.

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.