8,670 Shares in Trimble Inc. $TRMB Bought by Davis Investment Partners LLC

Davis Investment Partners LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,670 shares of the scientific and technical instruments company’s stock, valued at approximately $663,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRMB. Central Pacific Bank Trust Division increased its stake in Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 355 shares during the period. Flaharty Asset Management LLC purchased a new stake in Trimble during the 1st quarter worth $45,000. Putney Financial Group LLC purchased a new stake in Trimble during the 4th quarter worth $51,000. State of Wyoming purchased a new stake in Trimble during the 1st quarter worth $58,000. Finally, Farther Finance Advisors LLC increased its stake in Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock worth $64,000 after buying an additional 591 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer Allison sold 3,156 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares of the company’s stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,992 shares of company stock worth $18,579,506 in the last quarter. Company insiders own 0.54% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $80.88 on Monday. 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 Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The firm has a 50-day simple moving average of $81.88 and a 200 day simple moving average of $72.76. The company has a market cap of $19.25 billion, a PE ratio of 69.72, a P/E/G ratio of 3.32 and a beta of 1.66.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Raymond James Financial reissued an “outperform” rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Oppenheimer boosted their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, Trimble currently has an average rating of “Buy” and an average price target of $90.50.

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.