Lmcg Investments LLC cut its holdings in Trimble Inc. (NASDAQ:TRMB – Free Report) by 65.7% during the first quarter, HoldingsChannel reports. The firm owned 41,816 shares of the scientific and technical instruments company’s stock after selling 80,014 shares during the period. Lmcg Investments LLC’s holdings in Trimble were worth $2,728,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Trimble by 126.0% during the fourth quarter. Wellington Management Group LLP now owns 6,199,706 shares of the scientific and technical instruments company’s stock worth $485,747,000 after purchasing an additional 3,455,949 shares during the last quarter. Norges Bank purchased a new position in Trimble in the 4th quarter valued at $213,133,000. Ninety One UK Ltd purchased a new position in Trimble in the 4th quarter valued at $67,741,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in Trimble in the 3rd quarter valued at $56,747,000. Finally, Massachusetts Financial Services Co. MA raised its position in Trimble by 19.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,217,742 shares of the scientific and technical instruments company’s stock worth $330,460,000 after buying an additional 675,134 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.
Trimble Price Performance
Trimble stock opened at $52.40 on Thursday. The company has a market cap of $12.21 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.38. Trimble Inc. has a one year low of $47.92 and a one year high of $87.50. The business has a fifty day moving average of $54.95 and a two-hundred day moving average of $64.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 1.01.
Analyst Ratings Changes
TRMB has been the subject of several recent analyst reports. Weiss Ratings cut shares of Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Zacks Research lowered shares of Trimble from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Oppenheimer reissued an “outperform” rating and set a $80.00 price target on shares of Trimble in a report on Tuesday. Robert W. Baird reduced their price objective on shares of Trimble from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Finally, Barclays lowered their price objective on Trimble from $103.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Trimble has an average rating of “Moderate Buy” and a consensus target price of $87.33.
View Our Latest Research Report on Trimble
Insider Activity
In other news, VP Mark David Schwartz sold 16,725 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $67.01, for a total transaction of $1,120,742.25. Following the sale, the vice president owned 19,668 shares of the company’s stock, valued at $1,317,952.68. The trade was a 45.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Robert G. Painter sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $66.94, for a total value of $502,050.00. Following the completion of the sale, the chief executive officer owned 11,897 shares in the company, valued at approximately $796,385.18. This represents a 38.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.59% of the company’s stock.
Trimble Company Profile
Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.
Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.
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