California Public Employees Retirement System Grows Stock Position in Trimble Inc. $TRMB

California Public Employees Retirement System grew its position in shares of Trimble Inc. (NASDAQ:TRMB) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 446,906 shares of the scientific and technical instruments company’s stock after buying an additional 40,401 shares during the period. California Public Employees Retirement System owned 0.19% of Trimble worth $33,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMB. Generation Investment Management LLP raised its stake in Trimble by 19.1% in the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock valued at $685,314,000 after acquiring an additional 1,449,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Trimble by 26.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock valued at $458,113,000 after purchasing an additional 1,445,851 shares during the period. Boston Partners lifted its stake 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 buying an additional 525,214 shares in the last quarter. Invesco Ltd. boosted its holdings in Trimble by 6.5% in the 2nd quarter. Invesco Ltd. now owns 4,089,301 shares of the scientific and technical instruments company’s stock worth $310,705,000 after buying an additional 248,751 shares during the period. Finally, Northern Trust Corp grew its stake in Trimble by 19.8% in the 1st quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company’s stock valued at $202,526,000 after buying an additional 510,509 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Insider Activity at Trimble

In other news, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the transaction, the vice president owned 406 shares of the company’s stock, valued at $33,186.44. This represents a 94.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $79.50, for a total transaction of $596,250.00. Following the sale, the chief executive officer owned 84,879 shares in the company, valued at approximately $6,747,880.50. This trade represents a 8.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,699 shares of company stock worth $1,955,304 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Trimble Price Performance

Trimble stock opened at $82.46 on Thursday. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.18 and a beta of 1.60. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $79.54 and a 200 day simple moving average of $79.16. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The firm had revenue of $856.50 million during the quarter. On average, research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble announced that its Board of Directors has initiated a stock buyback program on Friday, December 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have issued reports on TRMB. Zacks Research upgraded Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Berenberg Bank set a $95.00 price objective on Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Piper Sandler restated an “overweight” rating and issued a $97.00 target price on shares of Trimble in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their target price on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Three investment 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 company’s stock. According to MarketBeat, the company 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.