California Public Employees Retirement System Acquires 40,401 Shares of Trimble Inc. $TRMB

California Public Employees Retirement System lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 9.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 446,906 shares of the scientific and technical instruments company’s stock after acquiring an additional 40,401 shares during the quarter. California Public Employees Retirement System’s holdings in Trimble were worth $33,956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CX Institutional lifted its stake in shares of Trimble by 11.7% in the 2nd quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company’s stock valued at $536,000 after acquiring an additional 739 shares during the last quarter. Boston Partners increased its stake in Trimble by 14.4% in the 2nd quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock worth $318,285,000 after purchasing an additional 525,214 shares during the period. Swiss National Bank lifted its position in Trimble by 8.0% in the second quarter. Swiss National Bank now owns 744,000 shares of the scientific and technical instruments company’s stock valued at $56,529,000 after purchasing an additional 55,300 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Trimble by 9.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 82,557 shares of the scientific and technical instruments company’s stock valued at $6,273,000 after purchasing an additional 6,873 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Trimble by 9.2% during the second quarter. Legal & General Group Plc now owns 2,215,602 shares of the scientific and technical instruments company’s stock valued at $168,341,000 after purchasing an additional 186,271 shares during the period. Institutional investors own 93.21% of the company’s stock.

Insider Transactions at Trimble

In other news, Director James Calvin Dalton sold 616 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $81.99, for a total transaction of $50,505.84. Following the sale, the director owned 13,193 shares in the company, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $79.50, for a total transaction of $596,250.00. Following the completion of the transaction, the chief executive officer owned 84,879 shares of the company’s stock, valued at approximately $6,747,880.50. The trade was a 8.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,699 shares of company stock valued at $1,955,304. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $97.00 target price on shares of Trimble in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Oppenheimer reissued an “outperform” rating and issued a $102.00 target price on shares of Trimble in a research note on Thursday, November 6th. Finally, Wells Fargo & Company started coverage on Trimble in a research report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $95.67.

Trimble Trading Up 1.3%

Shares of TRMB opened at $82.46 on Thursday. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $79.54 and its 200-day moving average price is $79.16. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.18 and a beta of 1.60.

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 business had revenue of $856.50 million during the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. Sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Trimble announced that its Board of Directors has authorized a share buyback program on Friday, December 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Trimble Profile

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.