GC Wealth Management RIA LLC Invests $460,000 in Trimble Inc. $TRMB

GC Wealth Management RIA LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 6,059 shares of the scientific and technical instruments company’s stock, valued at approximately $460,000.

Several other hedge funds have also made changes to their positions in TRMB. Nuveen LLC acquired a new stake in shares of Trimble during the first quarter worth about $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Trimble by 26.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock worth $458,113,000 after purchasing an additional 1,445,851 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Trimble by 338.8% during the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company’s stock worth $53,564,000 after purchasing an additional 629,960 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock worth $1,988,450,000 after buying an additional 582,124 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of Trimble by 296.5% during the first quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company’s stock worth $48,680,000 after buying an additional 554,514 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRMB. JPMorgan Chase & Co. upped their target price on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Oppenheimer upped their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Raymond James Financial restated an “outperform” rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $90.75.

Insider Buying and Selling

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the transaction, the vice president directly owned 22,405 shares in the company, valued at $1,747,590. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock valued at $19,181,521 over the last three months. 0.54% of the stock is currently owned by insiders.

Trimble Stock Performance

Shares of Trimble stock opened at $81.65 on Wednesday. The firm has a market capitalization of $19.43 billion, a P/E ratio of 70.39, a P/E/G ratio of 3.36 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 company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $82.04 and its two-hundred day moving average is $73.79.

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

Trimble Company 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.