Asset Management One Co. Ltd. Sells 8,306 Shares of Trimble Inc (TRMB)
Asset Management One Co. Ltd. trimmed its stake in shares of Trimble Inc (NASDAQ:TRMB) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 463,329 shares of the scientific and technical instruments company’s stock after selling 8,306 shares during the quarter. Asset Management One Co. Ltd. owned about 0.18% of Trimble worth $18,202,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in shares of Trimble by 13.0% in the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 357 shares during the period. Commonwealth Bank of Australia lifted its holdings in shares of Trimble by 17.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after buying an additional 500 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Trimble in the 2nd quarter valued at approximately $134,000. Howe & Rusling Inc. acquired a new stake in shares of Trimble in the 3rd quarter valued at approximately $139,000. Finally, Advisor Group Inc. lifted its holdings in shares of Trimble by 3.7% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 144 shares during the period. 89.73% of the stock is owned by institutional investors.
Trimble Inc (NASDAQ TRMB) opened at $40.51 on Thursday. Trimble Inc has a one year low of $28.61 and a one year high of $43.97. The firm has a market capitalization of $10,271.86, a P/E ratio of 32.64, a P/E/G ratio of 2.86 and a beta of 2.35. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.22.
Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Trimble had a return on equity of 12.97% and a net margin of 7.66%. The firm had revenue of $670.00 million during the quarter, compared to the consensus estimate of $660.11 million. During the same period last year, the business posted $0.33 EPS. Trimble’s quarterly revenue was up 14.7% on a year-over-year basis. equities analysts predict that Trimble Inc will post 1.27 earnings per share for the current fiscal year.
Trimble declared that its board has authorized a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Several research firms have recently commented on TRMB. Morgan Stanley raised their price target on Trimble from $24.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, August 17th. BidaskClub cut Trimble from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Berenberg Bank began coverage on Trimble in a research note on Wednesday, August 23rd. They issued a “hold” rating and a $38.00 price objective for the company. Piper Jaffray Companies set a $43.00 price objective on Trimble and gave the company a “buy” rating in a research note on Sunday, October 1st. Finally, Robert W. Baird raised their price objective on Trimble from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, September 22nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $41.70.
In other Trimble news, CEO Steven W. Berglund sold 200,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $40.45, for a total transaction of $8,090,000.00. Following the completion of the transaction, the chief executive officer now owns 350,489 shares of the company’s stock, valued at $14,177,280.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James A. Kirkland sold 25,570 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $41.01, for a total value of $1,048,625.70. Following the transaction, the vice president now directly owns 50,221 shares of the company’s stock, valued at approximately $2,059,563.21. The disclosure for this sale can be found here. Insiders sold a total of 320,278 shares of company stock valued at $12,969,243 over the last ninety days. 1.40% of the stock is currently owned by company insiders.
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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