Lombard Odier Asset Management Switzerland SA Makes New $913,000 Investment in Trimble Inc. $TRMB

Lombard Odier Asset Management Switzerland SA bought a new stake in Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 12,017 shares of the scientific and technical instruments company’s stock, valued at approximately $913,000.

Other large investors also recently made changes to their positions in the company. State Street Corp grew its position in Trimble by 2.6% in the 2nd quarter. State Street Corp now owns 10,908,124 shares of the scientific and technical instruments company’s stock worth $828,799,000 after purchasing an additional 273,320 shares in the last quarter. Generation Investment Management LLP boosted its stake in shares of Trimble by 19.1% in the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock worth $685,314,000 after buying an additional 1,449,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Trimble by 26.1% in 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 valued at $458,113,000 after acquiring an additional 1,445,851 shares in the last quarter. Boston Partners grew its holdings 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 valued at $318,285,000 after acquiring an additional 525,214 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Trimble by 6.5% during the second quarter. Invesco Ltd. now owns 4,089,301 shares of the scientific and technical instruments company’s stock valued at $310,705,000 after acquiring an additional 248,751 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRMB has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Berenberg Bank set a $95.00 target price on Trimble and gave the stock a “buy” rating in a research note on Friday, October 3rd. Wells Fargo & Company assumed coverage on shares of Trimble in a research report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target for the company. Zacks Research upgraded shares of Trimble from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Three equities research 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. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $95.67.

Trimble Stock Up 1.3%

TRMB stock opened at $82.46 on Thursday. The stock has a fifty day moving average of $79.54 and a 200-day moving average of $79.16. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.18 and a beta of 1.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 1.00.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data 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%. As a group, equities research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble announced that its board has initiated a share repurchase plan 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 repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Trimble

In related news, VP Christopher F. Keating sold 7,365 shares of the firm’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 value of $602,015.10. Following the completion of the transaction, the vice president directly owned 406 shares of the company’s stock, valued at approximately $33,186.44. This trade represents a 94.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $79.50, for a total transaction of $596,250.00. Following the completion of the transaction, the chief executive officer owned 84,879 shares of the company’s stock, valued at $6,747,880.50. This represents a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 24,699 shares of company stock valued at $1,955,304. 0.54% of the stock is owned by corporate insiders.

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.