Neuberger Berman Group LLC Acquires 7,639 Shares of Trimble Inc. $TRMB

Neuberger Berman Group LLC lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 25.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 37,596 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,639 shares during the quarter. Neuberger Berman Group LLC’s holdings in Trimble were worth $2,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC acquired a new stake in Trimble in the 2nd quarter valued at about $34,000. Geneos Wealth Management Inc. lifted its position in shares of Trimble by 55.4% during the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 169 shares in the last quarter. Osterweis Capital Management Inc. grew its stake in shares of Trimble by 5,790.0% during the second quarter. Osterweis Capital Management Inc. now owns 589 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 579 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Trimble in the second quarter valued at approximately $48,000. Finally, CYBER HORNET ETFs LLC bought a new position in Trimble in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Activity

In related news, CEO Robert G. Painter sold 7,500 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $81.39, for a total value of $610,425.00. Following the completion of the sale, the chief executive officer owned 41,897 shares in the company, valued at $3,409,996.83. This represents a 15.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher F. Keating sold 7,365 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $81.74, for a total value of $602,015.10. Following the sale, the vice president directly owned 406 shares in the company, valued at $33,186.44. The trade was a 94.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,199 shares of company stock worth $2,565,729 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Trimble Price Performance

Shares of TRMB opened at $80.26 on Monday. The stock has a market cap of $19.10 billion, a P/E ratio of 54.97, a price-to-earnings-growth 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 stock’s 50-day moving average price is $79.60 and its two-hundred day moving average price is $79.36. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share 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%. On average, equities analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

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

Analyst Ratings Changes

A number of brokerages have commented on TRMB. Wells Fargo & Company initiated coverage on Trimble in a research report on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Zacks Research raised Trimble from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $97.00 target price on shares of Trimble in a research note on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Trimble presently has an average rating of “Buy” and a consensus price target of $95.67.

Trimble 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.