Trimble Inc (TRMB) Stake Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in Trimble Inc (NASDAQ:TRMB) by 12.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,321 shares of the scientific and technical instruments company’s stock after selling 6,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Trimble were worth $1,883,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new position in Trimble during the second quarter worth about $102,000. Harel Insurance Investments & Financial Services Ltd. raised its position in Trimble by 215.3% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,396 shares of the scientific and technical instruments company’s stock worth $104,000 after acquiring an additional 1,636 shares during the last quarter. Psagot Investment House Ltd. acquired a new position in Trimble during the second quarter worth about $118,000. Korea Investment CORP acquired a new position in Trimble during the second quarter worth about $131,000. Finally, Commerce Bank acquired a new position in Trimble during the third quarter worth about $211,000. Institutional investors own 90.46% of the company’s stock.

A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of Trimble from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. ValuEngine upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Robert W. Baird lifted their target price on shares of Trimble from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.80.

In other news, CFO Robert G. Painter sold 1,800 shares of Trimble stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $35.43, for a total transaction of $63,774.00. Following the completion of the sale, the chief financial officer now directly owns 22,114 shares in the company, valued at $783,499.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Darryl R. Matthews sold 1,833 shares of Trimble stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $42.49, for a total transaction of $77,884.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,534 shares of company stock valued at $306,367. Insiders own 0.36% of the company’s stock.

Shares of TRMB opened at $36.39 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.67. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.09 and a beta of 2.45. Trimble Inc has a 12-month low of $32.01 and a 12-month high of $45.70.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The firm had revenue of $804.70 million for the quarter, compared to analysts’ expectations of $806.12 million. Trimble had a return on equity of 16.21% and a net margin of 5.32%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. As a group, research analysts anticipate that Trimble Inc will post 1.66 earnings per share for the current year.

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About Trimble

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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