Trimble Inc (NASDAQ:TRMB) Stock Holdings Trimmed by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in Trimble Inc (NASDAQ:TRMB) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,047 shares of the scientific and technical instruments company’s stock after selling 531 shares during the quarter. CIBC Asset Management Inc’s holdings in Trimble were worth $429,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TRMB. CSat Investment Advisory L.P. bought a new position in shares of Trimble during the second quarter valued at approximately $26,000. Advisory Services Network LLC grew its holdings in shares of Trimble by 347.1% during the second quarter. Advisory Services Network LLC now owns 760 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 590 shares during the last quarter. FTB Advisors Inc. bought a new position in shares of Trimble during the second quarter valued at approximately $53,000. SRS Capital Advisors Inc. bought a new position in shares of Trimble during the second quarter valued at approximately $63,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Trimble during the third quarter valued at approximately $87,000. 90.18% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:TRMB opened at $40.79 on Friday. The firm has a market capitalization of $10.32 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.26 and a beta of 2.03. The stock has a 50 day moving average of $38.93 and a 200-day moving average of $40.57. Trimble Inc has a 52 week low of $29.75 and a 52 week high of $46.25. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.58.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $874.30 million during the quarter, compared to analyst estimates of $807.49 million. Trimble had a return on equity of 15.63% and a net margin of 9.97%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, analysts predict that Trimble Inc will post 1.68 EPS for the current fiscal year.

TRMB has been the subject of several recent research reports. Craig Hallum reaffirmed a “hold” rating and set a $35.00 target price (down from $36.00) on shares of Trimble in a report on Thursday, August 1st. BidaskClub raised Trimble from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, ValuEngine lowered Trimble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Trimble has a consensus rating of “Hold” and a consensus target price of $42.33.

In other news, SVP Darryl R. Matthews sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the transaction, the senior vice president now directly owns 33,933 shares in the company, valued at $1,357,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven W. Berglund sold 308,575 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.18, for a total value of $12,398,543.50. Following the transaction, the chief executive officer now owns 640,605 shares of the company’s stock, valued at $25,739,508.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 336,040 shares of company stock valued at $13,498,633. Insiders own 0.39% of the company’s stock.

Trimble Company 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; and integrated workplace management services software.

Further Reading: What is the Fibonacci sequence?

Want to see what other hedge funds are holding TRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trimble Inc (NASDAQ:TRMB).

Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

Receive News & Ratings for Trimble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble and related companies with MarketBeat.com's FREE daily email newsletter.