SouthState Corp Buys 61,016 Shares of Trimble Inc. $TRMB

SouthState Corp raised its stake in Trimble Inc. (NASDAQ:TRMB) by 164.5% in the second quarter, Holdings Channel.com reports. The firm owned 98,108 shares of the scientific and technical instruments company’s stock after acquiring an additional 61,016 shares during the period. SouthState Corp’s holdings in Trimble were worth $7,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TRMB. Catalyst Capital Advisors LLC bought a new stake in Trimble in the 2nd quarter valued at $34,000. Flaharty Asset Management LLC bought a new stake in Trimble in the 1st quarter valued at $45,000. Ameritas Advisory Services LLC bought a new stake in Trimble in the 2nd quarter valued at $48,000. Steph & Co. boosted its holdings in Trimble by 592.0% in the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after purchasing an additional 592 shares during the period. Finally, State of Wyoming bought a new stake in Trimble in the 1st quarter valued at $58,000. 93.21% of the stock is owned by institutional investors.

Insider Activity at Trimble

In other news, Director James Calvin Dalton sold 609 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the sale, the director directly owned 13,809 shares of the company’s stock, valued at $1,137,999.69. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the sale, the chief executive officer directly owned 114,879 shares in the company, valued at $9,515,427.57. This trade represents a 50.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 224,321 shares of company stock valued at $18,677,518 in the last ninety days. Insiders own 0.54% of the company’s stock.

Trimble Trading Up 2.5%

Shares of TRMB stock opened at $80.57 on Thursday. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a market capitalization of $19.17 billion, a P/E ratio of 69.46, a P/E/G ratio of 3.26 and a beta of 1.66. The firm has a 50-day moving average price of $80.08 and a 200 day moving average price of $76.76. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $856.50 million during the quarter. Research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

TRMB has been the subject of a number of research reports. Barclays started coverage on shares of Trimble in a report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, Berenberg Bank set a $95.00 price objective on shares of Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $92.10.

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.