Eagle Ridge Investment Management Sells 607 Shares of Trimble Inc (NASDAQ:TRMB)

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Eagle Ridge Investment Management lessened its position in shares of Trimble Inc (NASDAQ:TRMB) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,466 shares of the scientific and technical instruments company’s stock after selling 607 shares during the period. Eagle Ridge Investment Management owned approximately 0.07% of Trimble worth $7,780,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its stake in Trimble by 101.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,077,902 shares of the scientific and technical instruments company’s stock worth $47,916,000 after purchasing an additional 542,119 shares during the last quarter. Advisory Services Network LLC lifted its stake in Trimble by 347.1% during the second quarter. Advisory Services Network LLC now owns 760 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 590 shares during the last quarter. Emerald Advisers LLC bought a new stake in Trimble during the second quarter worth $205,000. Advisor Group Inc. lifted its stake in Trimble by 43.1% during the second quarter. Advisor Group Inc. now owns 5,373 shares of the scientific and technical instruments company’s stock worth $242,000 after purchasing an additional 1,618 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Trimble by 1.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 46,500 shares of the scientific and technical instruments company’s stock worth $2,098,000 after purchasing an additional 720 shares during the last quarter. Institutional investors own 92.00% of the company’s stock.

Several equities research analysts have weighed in on TRMB shares. ValuEngine cut Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Wednesday, July 10th. Craig Hallum restated a “hold” rating and set a $35.00 target price (down from $36.00) on shares of Trimble in a research note on Thursday, August 1st. Zacks Investment Research cut Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, BidaskClub cut Trimble from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.50.

In related news, Director Merit E. Janow sold 8,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $40.59, for a total value of $324,720.00. Following the completion of the sale, the director now directly owns 30,362 shares in the company, valued at $1,232,393.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert G. Painter sold 5,300 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $44.00, for a total value of $233,200.00. Following the completion of the sale, the chief financial officer now owns 60,697 shares of the company’s stock, valued at $2,670,668. The disclosure for this sale can be found here. Insiders have sold 28,300 shares of company stock valued at $1,184,710 over the last quarter. Company insiders own 0.39% of the company’s stock.

Shares of NASDAQ:TRMB traded down $0.08 during trading on Thursday, hitting $36.45. 57,283 shares of the company were exchanged, compared to its average volume of 1,196,773. The stock has a 50 day simple moving average of $42.82. The firm has a market cap of $9.37 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.19 and a beta of 1.98. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Trimble Inc has a 1-year low of $29.75 and a 1-year high of $46.25.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate of $864.69 million. Trimble had a net margin of 9.80% and a return on equity of 15.96%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. On average, equities research analysts expect that Trimble Inc will post 1.7 EPS for the current year.

Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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