Lifestyle Asset Management Inc. Invests $1.51 Million in Trimble Inc. $TRMB

Lifestyle Asset Management Inc. purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 18,504 shares of the scientific and technical instruments company’s stock, valued at approximately $1,511,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peapack Gladstone Financial Corp raised its stake in Trimble by 2.6% during the second quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock worth $381,000 after purchasing an additional 125 shares during the period. MAI Capital Management increased its holdings in shares of Trimble by 4.7% during the 2nd quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after buying an additional 126 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Trimble by 18.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock worth $69,000 after buying an additional 141 shares during the last quarter. Balboa Wealth Partners raised its position in shares of Trimble by 4.7% during the 2nd quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock valued at $243,000 after buying an additional 144 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in Trimble by 11.7% in the second quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 159 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TRMB shares. Zacks Research upgraded Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Oppenheimer restated an “outperform” rating and issued a $102.00 price objective on shares of Trimble in a report on Thursday, November 6th. 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. Wells Fargo & Company began coverage on shares of Trimble in a research note on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price target for the company. Finally, Barclays started coverage on shares of Trimble in a report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Trimble currently has an average rating of “Buy” and a consensus price target of $96.67.

Insider Buying and Selling

In other Trimble news, Director James Calvin Dalton sold 616 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $81.99, for a total value of $50,505.84. Following the completion of the transaction, the director owned 13,193 shares in the company, valued at approximately $1,081,694.07. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 7,500 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $81.39, for a total transaction of $610,425.00. Following the sale, the chief executive officer owned 41,897 shares in the company, valued at $3,409,996.83. The trade was a 15.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,084 shares of company stock valued at $2,144,726 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Trimble Trading Up 1.2%

TRMB opened at $80.88 on Friday. The firm has a market cap of $19.24 billion, a price-to-earnings ratio of 55.40, a price-to-earnings-growth ratio of 3.12 and a beta of 1.60. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The business’s 50 day moving average is $79.70 and its two-hundred day moving average is $79.56. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last announced its earnings results 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 for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. On average, research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

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

Trimble Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.