Trimble Inc. $TRMB Holdings Reduced by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 19.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 65,323 shares of the scientific and technical instruments company’s stock after selling 15,638 shares during the quarter. Voya Investment Management LLC’s holdings in Trimble were worth $5,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional increased its position in Trimble by 11.7% in the 2nd quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company’s stock valued at $536,000 after acquiring an additional 739 shares during the period. Boston Partners grew its stake in shares of Trimble by 14.4% in the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock worth $318,285,000 after purchasing an additional 525,214 shares in the last quarter. Swiss National Bank increased its holdings in shares of Trimble by 8.0% during the second quarter. Swiss National Bank now owns 744,000 shares of the scientific and technical instruments company’s stock valued at $56,529,000 after purchasing an additional 55,300 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Trimble by 9.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 82,557 shares of the scientific and technical instruments company’s stock valued at $6,273,000 after purchasing an additional 6,873 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Trimble by 9.2% in the second quarter. Legal & General Group Plc now owns 2,215,602 shares of the scientific and technical instruments company’s stock worth $168,341,000 after purchasing an additional 186,271 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on TRMB shares. Zacks Research raised shares of Trimble from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Barclays started coverage on Trimble in a report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 target price on the stock. KeyCorp raised Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a research note on Monday, December 15th. Finally, Wells Fargo & Company assumed coverage on Trimble in a research note on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $96.67.

Insider Buying and Selling

In related news, Director James Calvin Dalton sold 616 shares of Trimble stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $81.99, for a total value of $50,505.84. Following the transaction, the director owned 13,193 shares of the company’s stock, valued at approximately $1,081,694.07. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Phillip Sawarynski sold 2,250 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total value of $181,012.50. Following the sale, the chief financial officer owned 25,684 shares in the company, valued at approximately $2,066,277.80. The trade was a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 27,084 shares of company stock worth $2,144,726. Company insiders own 0.54% of the company’s stock.

Trimble Trading Down 1.0%

Shares of NASDAQ:TRMB opened at $79.69 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 1.00. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 54.58, a PEG ratio of 3.14 and a beta of 1.60. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a 50 day moving average price of $79.86 and a 200 day moving average price of $79.80.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The company had revenue of $856.50 million during the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%. On average, research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Trimble

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.