Fred Alger Management Inc. cut its stake in shares of Trimble Inc (NASDAQ:TRMB) by 41.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,611 shares of the scientific and technical instruments company’s stock after selling 98,545 shares during the quarter. Fred Alger Management Inc. owned approximately 0.06% of Trimble worth $5,633,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of Trimble during the fourth quarter valued at approximately $125,000. Advisory Services Network LLC grew its holdings in shares of Trimble by 3,428.1% during the fourth quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 3,051 shares during the last quarter. Delpha Capital Management LLC bought a new position in shares of Trimble during the fourth quarter valued at approximately $134,000. Fieldpoint Private Securities LLC bought a new position in shares of Trimble during the third quarter valued at approximately $137,000. Finally, Armor Investment Advisors LLC bought a new position in shares of Trimble during the fourth quarter valued at approximately $203,000. 90.00% of the stock is owned by institutional investors.
Trimble Inc (NASDAQ:TRMB) opened at $39.45 on Monday. Trimble Inc has a fifty-two week low of $30.45 and a fifty-two week high of $45.70. The stock has a market capitalization of $9,794.11, a P/E ratio of 83.94, a P/E/G ratio of 2.34 and a beta of 2.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.63 and a quick ratio of 1.29.
Trimble declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 15th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Trimble from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 6th. BidaskClub raised Trimble from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Oppenheimer set a $50.00 target price on Trimble and gave the company a “buy” rating in a report on Friday, February 9th. Finally, TheStreet lowered Trimble from a “b” rating to a “c+” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.10.
In related news, CEO Steven W. Berglund sold 200,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $39.25, for a total value of $7,850,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulf J. Johansson sold 50,000 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $38.07, for a total value of $1,903,500.00. Following the completion of the transaction, the director now directly owns 42,670 shares of the company’s stock, valued at $1,624,446.90. The disclosure for this sale can be found here. Insiders sold a total of 471,946 shares of company stock valued at $18,558,140 over the last three months. Corporate insiders own 1.40% of the company’s stock.
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Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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