OLD National Bancorp IN Invests $256,000 in Trimble Inc (TRMB)

OLD National Bancorp IN acquired a new stake in Trimble Inc (NASDAQ:TRMB) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 6,330 shares of the scientific and technical instruments company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ETRADE Capital Management LLC raised its position in shares of Trimble by 3.3% during the 4th quarter. ETRADE Capital Management LLC now owns 22,293 shares of the scientific and technical instruments company’s stock worth $734,000 after acquiring an additional 718 shares in the last quarter. Impax Asset Management Group plc increased its position in Trimble by 0.8% during the fourth quarter. Impax Asset Management Group plc now owns 5,559,309 shares of the scientific and technical instruments company’s stock worth $182,957,000 after buying an additional 46,661 shares during the period. Nordea Investment Management AB increased its position in Trimble by 37.1% during the fourth quarter. Nordea Investment Management AB now owns 683,744 shares of the scientific and technical instruments company’s stock worth $22,502,000 after buying an additional 184,974 shares during the period. Raymond James & Associates increased its position in Trimble by 14.6% during the fourth quarter. Raymond James & Associates now owns 39,764 shares of the scientific and technical instruments company’s stock worth $1,309,000 after buying an additional 5,076 shares during the period. Finally, Parnassus Investments CA increased its position in Trimble by 41.6% during the fourth quarter. Parnassus Investments CA now owns 3,285,552 shares of the scientific and technical instruments company’s stock worth $108,128,000 after buying an additional 964,512 shares during the period. Institutional investors and hedge funds own 91.25% of the company’s stock.

Several research firms have commented on TRMB. BidaskClub lowered Trimble from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research raised Trimble from a “sell” rating to a “hold” rating in a research report on Thursday, March 28th. Finally, ValuEngine raised Trimble from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.33.

NASDAQ:TRMB opened at $40.06 on Friday. The company has a market capitalization of $10.31 billion, a PE ratio of 23.70, a P/E/G ratio of 2.12 and a beta of 2.15. The company has a current ratio of 1.05, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Trimble Inc has a 12-month low of $29.75 and a 12-month high of $44.55.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The business had revenue of $804.50 million for the quarter, compared to analyst estimates of $808.58 million. Trimble had a return on equity of 16.15% and a net margin of 9.05%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities analysts predict that Trimble Inc will post 1.85 earnings per share for the current year.

In other news, CEO Steven W. Berglund sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.15, for a total value of $4,215,000.00. Following the transaction, the chief executive officer now owns 354,144 shares of the company’s stock, valued at $14,927,169.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert G. Painter sold 1,716 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.00, for a total value of $73,788.00. Following the completion of the transaction, the chief financial officer now directly owns 31,527 shares in the company, valued at approximately $1,355,661. The disclosure for this sale can be found here. In the last three months, insiders sold 263,661 shares of company stock worth $10,794,124. Corporate insiders own 0.39% of the company’s stock.

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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: Why do companies engage in swaps?

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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