Simon Quick Advisors LLC Lowers Stock Holdings in Trimble Inc. $TRMB

Simon Quick Advisors LLC trimmed its stake in Trimble Inc. (NASDAQ:TRMB) by 19.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,824 shares of the scientific and technical instruments company’s stock after selling 3,324 shares during the period. Simon Quick Advisors LLC’s holdings in Trimble were worth $1,050,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in Trimble by 1.7% in the 2nd quarter. Strs Ohio now owns 458,535 shares of the scientific and technical instruments company’s stock valued at $34,839,000 after buying an additional 7,716 shares during the period. Atria Investments Inc lifted its position in shares of Trimble by 50.8% in the 2nd quarter. Atria Investments Inc now owns 5,996 shares of the scientific and technical instruments company’s stock worth $456,000 after purchasing an additional 2,019 shares during the period. Assetmark Inc. lifted its position in shares of Trimble by 9.5% in the 2nd quarter. Assetmark Inc. now owns 7,489 shares of the scientific and technical instruments company’s stock worth $569,000 after purchasing an additional 651 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Trimble in the 2nd quarter worth approximately $283,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Trimble by 57.7% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,927 shares of the scientific and technical instruments company’s stock worth $1,590,000 after purchasing an additional 7,660 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Trading Up 1.1%

NASDAQ:TRMB opened at $79.75 on Friday. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The firm has a 50 day moving average of $80.21 and a 200 day moving average of $76.20. 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 stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 68.75, a PEG ratio of 3.26 and a beta of 1.65.

Trimble (NASDAQ:TRMB) last posted its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $856.50 million during the quarter. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the transaction, the vice president owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the company’s 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 transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. The trade was a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 224,321 shares of company stock worth $18,677,518. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several research reports. Barclays initiated coverage on shares of Trimble in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target for the company. Oppenheimer upped their price target 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Finally, Berenberg Bank set a $95.00 target price on shares of Trimble and gave the company a “buy” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $92.10.

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.