Oppenheimer & Co. Inc. Acquires New Position in Trimble Inc (TRMB)

Oppenheimer & Co. Inc. acquired a new position in shares of Trimble Inc (NASDAQ:TRMB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,618 shares of the scientific and technical instruments company’s stock, valued at approximately $635,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Trimble by 4.9% in the second quarter. BlackRock Inc. now owns 24,840,805 shares of the scientific and technical instruments company’s stock valued at $815,770,000 after acquiring an additional 1,164,391 shares during the last quarter. FMR LLC boosted its holdings in Trimble by 28.7% during the second quarter. FMR LLC now owns 8,494,787 shares of the scientific and technical instruments company’s stock worth $278,969,000 after buying an additional 1,893,300 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Trimble by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 5,557,677 shares of the scientific and technical instruments company’s stock worth $182,514,000 after buying an additional 207,766 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in Trimble by 8.9% during the second quarter. King Luther Capital Management Corp now owns 4,131,473 shares of the scientific and technical instruments company’s stock worth $135,678,000 after buying an additional 339,167 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its holdings in Trimble by 23.1% during the second quarter. DF Dent & Co. Inc. now owns 2,685,546 shares of the scientific and technical instruments company’s stock worth $88,193,000 after buying an additional 504,553 shares during the last quarter. Hedge funds and other institutional investors own 90.18% of the company’s stock.

TRMB has been the topic of a number of recent analyst reports. ValuEngine upgraded Trimble from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Zacks Investment Research cut Trimble from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. BidaskClub upgraded Trimble from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 29th. Finally, Robert W. Baird raised their target price on Trimble from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Trimble has an average rating of “Hold” and an average price target of $43.40.

Shares of TRMB opened at $36.44 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.67. Trimble Inc has a 1 year low of $32.01 and a 1 year high of $45.70. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.28 and a beta of 2.45.

Trimble (NASDAQ:TRMB) last issued its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.03). The company had revenue of $804.70 million for the quarter, compared to the consensus estimate of $806.12 million. Trimble had a return on equity of 16.21% and a net margin of 5.32%. Trimble’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. As a group, equities analysts predict that Trimble Inc will post 1.63 earnings per share for the current year.

In other news, CFO Robert G. Painter sold 750 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $38.87, for a total transaction of $29,152.50. Following the sale, the chief financial officer now owns 10,888 shares of the company’s stock, valued at $423,216.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Sachin Sankpal sold 3,151 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $43.02, for a total value of $135,556.02. Following the sale, the senior vice president now directly owns 17,997 shares in the company, valued at approximately $774,230.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,306 shares of company stock worth $2,946,255. 0.36% of the stock is currently owned by insiders.

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Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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