Trust Asset Management LLC Invests $215,000 in Trimble Inc. $TRMB

Trust Asset Management LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,824 shares of the scientific and technical instruments company’s stock, valued at approximately $215,000.

Several other institutional investors have also modified their holdings of TRMB. Flaharty Asset Management LLC purchased a new position in shares of Trimble during the 1st quarter worth $45,000. Ameritas Advisory Services LLC purchased a new stake in Trimble in the 2nd quarter valued at about $48,000. Steph & Co. raised its holdings in Trimble by 592.0% in the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after buying an additional 592 shares during the period. State of Wyoming purchased a new stake in Trimble in the 1st quarter valued at about $58,000. Finally, Farther Finance Advisors LLC raised its holdings in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $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 Buying and Selling at Trimble

In other news, CEO Robert G. Painter sold 115,781 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was 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 directly owned 114,879 shares of the company’s stock, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Calvin Dalton sold 609 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the transaction, the director directly owned 13,809 shares of the company’s stock, valued at approximately $1,137,999.69. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,381 shares of company stock valued at $18,474,943. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Berenberg Bank set a $95.00 price objective on shares of Trimble and gave the company a “buy” rating in a report on Friday. Raymond James Financial restated an “outperform” rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $92.10.

Trimble Stock Down 1.9%

Shares of NASDAQ:TRMB opened at $79.30 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The firm has a market capitalization of $18.87 billion, a PE ratio of 68.36, a price-to-earnings-growth ratio of 3.32 and a beta of 1.65. The firm’s 50-day moving average is $81.59 and its two-hundred day moving average is $74.12. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Analysts predict that Trimble Inc. will post 2.37 EPS for the current 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.