RiverPark Advisors LLC cut its stake in shares of Trimble Inc (NASDAQ:TRMB) by 22.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,145 shares of the scientific and technical instruments company’s stock after selling 13,903 shares during the period. RiverPark Advisors LLC’s holdings in Trimble were worth $1,957,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Robecosam AG grew its position in Trimble by 39.4% in the fourth quarter. Robecosam AG now owns 356,913 shares of the scientific and technical instruments company’s stock worth $14,623,000 after acquiring an additional 100,814 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in Trimble in the fourth quarter worth approximately $921,000. Kendall Capital Management bought a new stake in Trimble in the fourth quarter worth approximately $612,000. Guggenheim Capital LLC grew its position in Trimble by 164.7% in the fourth quarter. Guggenheim Capital LLC now owns 139,170 shares of the scientific and technical instruments company’s stock worth $5,655,000 after acquiring an additional 86,586 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Trimble by 8.9% in the fourth quarter. Deutsche Bank AG now owns 1,147,072 shares of the scientific and technical instruments company’s stock worth $46,613,000 after acquiring an additional 94,075 shares in the last quarter. 90.00% of the stock is currently owned by hedge funds and other institutional investors.
TRMB has been the subject of several recent research reports. BidaskClub downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Trimble from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, December 26th. Oppenheimer reissued a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Trimble in a research report on Wednesday, January 31st. Finally, TheStreet downgraded shares of Trimble from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.10.
Shares of Trimble Inc (NASDAQ TRMB) opened at $39.45 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.29 and a current ratio of 1.63. The stock has a market cap of $9,794.11, a price-to-earnings ratio of 83.94, a P/E/G ratio of 2.34 and a beta of 2.41. Trimble Inc has a 1-year low of $30.45 and a 1-year high of $45.70.
Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $708.40 million during the quarter, compared to the consensus estimate of $674.84 million. Trimble had a net margin of 4.56% and a return on equity of 13.37%. Trimble’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. analysts anticipate that Trimble Inc will post 1.5 earnings per share for the current year.
Trimble declared that its board has approved a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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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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