Brown Advisory Inc. Sells 10,432 Shares of Trimble Inc. $TRMB

Brown Advisory Inc. cut its holdings in Trimble Inc. (NASDAQ:TRMB) by 11.7% during the second quarter, Holdings Channel reports. The firm owned 78,730 shares of the scientific and technical instruments company’s stock after selling 10,432 shares during the quarter. Brown Advisory Inc.’s holdings in Trimble were worth $5,982,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Amundi lifted its holdings in shares of Trimble by 37.5% in the second quarter. Amundi now owns 1,171,756 shares of the scientific and technical instruments company’s stock worth $89,413,000 after buying an additional 319,381 shares in the last quarter. Marshall Wace LLP lifted its stake in Trimble by 31.8% in the 2nd quarter. Marshall Wace LLP now owns 113,500 shares of the scientific and technical instruments company’s stock worth $8,624,000 after purchasing an additional 27,374 shares in the last quarter. First Trust Advisors LP lifted its stake in Trimble by 39.1% in the 2nd quarter. First Trust Advisors LP now owns 652,402 shares of the scientific and technical instruments company’s stock worth $49,570,000 after purchasing an additional 183,365 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Trimble by 12.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,176 shares of the scientific and technical instruments company’s stock valued at $241,000 after purchasing an additional 352 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Trimble by 6.5% during the second quarter. Invesco Ltd. now owns 4,089,301 shares of the scientific and technical instruments company’s stock valued at $310,705,000 after purchasing an additional 248,751 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the sale, the director owned 15,170 shares in the company, valued at $1,228,770. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $79.50, for a total value of $596,250.00. Following the sale, the chief executive officer owned 84,879 shares of the company’s stock, valued at approximately $6,747,880.50. This trade represents a 8.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,699 shares of company stock valued at $1,955,304. 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 reiterated an “overweight” rating and issued a $97.00 target price on shares of Trimble in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Oppenheimer reaffirmed an “outperform” rating and set a $102.00 price target on shares of Trimble in a research note on Thursday, November 6th. Finally, Barclays assumed coverage on shares of Trimble in a research report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $94.18.

Trimble Price Performance

Trimble stock opened at $81.77 on Tuesday. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. 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 firm has a 50-day moving average price of $79.49 and a 200-day moving average price of $79.06. The firm has a market capitalization of $19.45 billion, a PE ratio of 56.01, a price-to-earnings-growth ratio of 3.26 and a beta of 1.60.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. The company 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%. As a group, equities research analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Trimble announced that its Board of Directors has authorized a share repurchase plan on Friday, December 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About Trimble

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.