Northern Trust Corp decreased its holdings in shares of Trimble Inc (NASDAQ:TRMB) by 0.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,464,636 shares of the scientific and technical instruments company’s stock after selling 15,535 shares during the period. Northern Trust Corp owned 0.98% of Trimble worth $111,180,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of TRMB. Parnassus Investments CA increased its position in Trimble by 203.5% during the 2nd quarter. Parnassus Investments CA now owns 9,972,239 shares of the scientific and technical instruments company’s stock valued at $449,848,000 after purchasing an additional 6,686,687 shares during the period. FMR LLC increased its position in Trimble by 17.2% during the 1st quarter. FMR LLC now owns 6,713,240 shares of the scientific and technical instruments company’s stock valued at $271,214,000 after purchasing an additional 984,623 shares during the period. Artisan Partners Limited Partnership increased its position in Trimble by 57.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,684,151 shares of the scientific and technical instruments company’s stock valued at $108,440,000 after purchasing an additional 981,492 shares during the period. Argent Capital Management LLC purchased a new position in Trimble during the 1st quarter valued at about $39,533,000. Finally, DekaBank Deutsche Girozentrale increased its position in Trimble by 101.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,077,902 shares of the scientific and technical instruments company’s stock valued at $47,916,000 after purchasing an additional 542,119 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on TRMB shares. JPMorgan Chase & Co. downgraded shares of Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Wednesday, July 10th. BidaskClub raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday. ValuEngine downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $35.00 price objective (down previously from $36.00) on shares of Trimble in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.50.
Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Trimble had a net margin of 9.80% and a return on equity of 15.96%. The firm had revenue of $855.80 million for the quarter, compared to the consensus estimate of $864.69 million. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Trimble Inc will post 1.7 earnings per share for the current fiscal year.
In related news, VP Ronald Bisio sold 4,265 shares of Trimble stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $38.14, for a total value of $162,667.10. Following the completion of the sale, the vice president now directly owns 8,953 shares in the company, valued at approximately $341,467.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert G. Painter sold 5,300 shares of Trimble stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $44.00, for a total transaction 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. In the last ninety days, insiders sold 12,265 shares of company stock worth $498,494. Insiders own 0.39% of the company’s stock.
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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