180 Wealth Advisors LLC Raises Stock Holdings in Trimble Inc. $TRMB

180 Wealth Advisors LLC raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 222.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,201 shares of the scientific and technical instruments company’s stock after buying an additional 7,039 shares during the period. 180 Wealth Advisors LLC’s holdings in Trimble were worth $833,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Peapack Gladstone Financial Corp raised its stake in shares of Trimble by 2.6% during the second quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock valued at $381,000 after acquiring an additional 125 shares during the last quarter. MAI Capital Management increased its holdings in Trimble by 4.7% during the 2nd quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock valued at $213,000 after purchasing an additional 126 shares during the period. Parkside Financial Bank & Trust raised its position in Trimble by 18.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock valued at $69,000 after purchasing an additional 141 shares during the last quarter. Balboa Wealth Partners lifted its holdings in Trimble by 4.7% in the 2nd 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 period. Finally, First Horizon Advisors Inc. grew its position in shares of 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 worth $115,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Buying and Selling

In other news, Director James Calvin Dalton sold 616 shares of the firm’s 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 completion of the transaction, the director owned 13,193 shares in the company, valued at $1,081,694.07. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $81.39, for a total transaction of $610,425.00. Following the completion of the transaction, the chief executive officer directly owned 41,897 shares of the company’s stock, valued at approximately $3,409,996.83. This trade represents a 15.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,084 shares of company stock worth $2,144,726. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $97.00 price objective on shares of Trimble in a research report on Friday, November 7th. Zacks Research raised shares of Trimble from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. 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, December 15th. Wells Fargo & Company began coverage on Trimble in a research note on Thursday, November 13th. They issued an “overweight” rating and a $94.00 target price for the company. Finally, JPMorgan Chase & Co. lifted 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. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $96.67.

Trimble Price Performance

NASDAQ TRMB opened at $80.20 on Monday. The company has a 50-day moving average price of $79.95 and a 200-day moving average price of $79.96. 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 firm has a market capitalization of $19.08 billion, a P/E ratio of 54.93, a PEG ratio of 3.13 and a beta of 1.60. 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 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%. Equities research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble announced that its board has authorized a share repurchase program on Friday, December 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.