Amundi Buys 319,381 Shares of Trimble Inc. $TRMB

Amundi grew its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 37.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,171,756 shares of the scientific and technical instruments company’s stock after acquiring an additional 319,381 shares during the quarter. Amundi’s holdings in Trimble were worth $89,413,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TRMB. CX Institutional increased its holdings in Trimble by 11.7% during the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company’s stock valued at $536,000 after buying an additional 739 shares during the last quarter. Boston Partners grew its position in shares of Trimble by 14.4% during the 2nd quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock valued at $318,285,000 after acquiring an additional 525,214 shares during the period. Swiss National Bank grew its position in shares of Trimble by 8.0% during the 2nd quarter. Swiss National Bank now owns 744,000 shares of the scientific and technical instruments company’s stock valued at $56,529,000 after acquiring an additional 55,300 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Trimble by 9.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 82,557 shares of the scientific and technical instruments company’s stock worth $6,273,000 after purchasing an additional 6,873 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Trimble by 9.2% in the 2nd quarter. Legal & General Group Plc now owns 2,215,602 shares of the scientific and technical instruments company’s stock worth $168,341,000 after purchasing an additional 186,271 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 2.1%

Shares of TRMB stock opened at $81.77 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 56.01, a price-to-earnings-growth ratio of 3.26 and a beta of 1.60. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The stock’s 50-day moving average price is $79.49 and its 200-day moving average price is $79.06.

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 for the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The business had revenue of $856.50 million during the quarter. Equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble declared that its board has approved a share repurchase plan on Friday, December 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Trimble

In related news, Director James Calvin Dalton sold 616 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $81.99, for a total value of $50,505.84. Following the sale, the director owned 13,193 shares in the company, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kaigham Gabriel sold 1,718 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total transaction of $139,158.00. Following the sale, the director directly owned 15,170 shares in the company, valued at approximately $1,228,770. The trade was a 10.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,699 shares of company stock valued at $1,955,304. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on TRMB shares. Wells Fargo & Company began coverage on Trimble in a research report on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $102.00 price target on shares of Trimble in a report on Thursday, November 6th. Berenberg Bank set a $95.00 price target on shares of Trimble and gave the stock a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Finally, Barclays started coverage on shares of Trimble in a report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $94.18.

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.