Bridges Investment Management Inc. Purchases Shares of 2,667 Trimble Inc. $TRMB

by · The Cerbat Gem

Bridges Investment Management Inc. purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB – Free Report) during the second quarter, HoldingsChannel reports. The firm purchased 2,667 shares of the scientific and technical instruments company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC acquired a new position in Trimble during the 4th quarter worth about $211,000. Farther Finance Advisors LLC raised its position in shares of Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock worth $64,000 after acquiring an additional 591 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company’s stock worth $346,000 after acquiring an additional 1,059 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company’s stock valued at $2,355,000 after acquiring an additional 2,397 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Trimble by 3.4% during the 1st quarter. State of Alaska Department of Revenue now owns 28,790 shares of the scientific and technical instruments company’s stock valued at $1,890,000 after purchasing an additional 945 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Barclays began coverage on Trimble in a report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price target for the company. Oppenheimer boosted their price objective on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $92.10.

Read Our Latest Analysis on TRMB

Insider Buying and Selling at Trimble

In other news, VP Christopher F. Keating sold 7,365 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the sale, the vice president directly owned 406 shares of the company’s stock, valued at $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Calvin Dalton sold 609 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the sale, the director owned 13,809 shares in the company, valued at $1,137,999.69. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 224,321 shares of company stock worth $18,677,518. 0.54% of the stock is owned by corporate insiders.

Trimble Stock Performance

Shares of TRMB opened at $77.40 on Friday. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company has a market cap of $18.42 billion, a PE ratio of 66.72, a P/E/G ratio of 3.20 and a beta of 1.65. The stock has a 50-day moving average of $80.70 and a 200-day moving average of $74.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB – Get Free Report) last announced its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $856.50 million for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%. On average, equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble Profile

(Free Report)

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.

See Also

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 – Free Report).