Union Bancaire Privee UBP SA Invests $1.26 Million in Trimble Inc. $TRMB

Union Bancaire Privee UBP SA purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,535 shares of the scientific and technical instruments company’s stock, valued at approximately $1,262,000.

Other hedge funds also recently bought and sold shares of the company. Peapack Gladstone Financial Corp boosted its holdings in shares of Trimble by 2.6% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock worth $381,000 after purchasing an additional 125 shares during the last quarter. MAI Capital Management lifted its position in Trimble by 4.7% during the second quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after buying an additional 126 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Trimble by 18.4% during the second quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock worth $69,000 after buying an additional 141 shares during the last quarter. Balboa Wealth Partners boosted its stake in Trimble by 4.7% during the second quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock worth $243,000 after buying an additional 144 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Trimble by 11.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Trading Down 2.0%

NASDAQ TRMB opened at $78.89 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86. The stock has a market capitalization of $18.77 billion, a P/E ratio of 54.03, a PEG ratio of 3.14 and a beta of 1.60. The firm’s 50-day moving average is $79.58 and its two-hundred day moving average is $79.48. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50.

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

Trimble declared that its board has approved 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 buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

TRMB has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Berenberg Bank set a $95.00 price objective on shares of Trimble and gave the stock a “buy” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. KeyCorp raised shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a research note on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price target on shares of Trimble in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Trimble has an average rating of “Buy” and a consensus price target of $96.67.

Insiders Place Their Bets

In related news, Director James Calvin Dalton sold 616 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $81.99, for a total transaction of $50,505.84. Following the transaction, the director owned 13,193 shares of the company’s stock, valued at approximately $1,081,694.07. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kaigham Gabriel sold 1,718 shares of Trimble stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the transaction, the director directly owned 15,170 shares of the company’s stock, valued at approximately $1,228,770. This represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,834 shares of company stock worth $1,963,714 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.