New Mexico Educational Retirement Board lessened its position in shares of Trimble Inc (NASDAQ:TRMB) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,454 shares of the scientific and technical instruments company’s stock after selling 7,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Trimble were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in shares of Trimble by 347.1% during the 2nd quarter. Advisory Services Network LLC now owns 760 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 590 shares during the period. Cornerstone Advisors Inc. lifted its stake in Trimble by 34.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 997 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 258 shares during the last quarter. FTB Advisors Inc. bought a new position in Trimble in the 2nd quarter valued at approximately $53,000. Enterprise Financial Services Corp bought a new position in Trimble in the 1st quarter valued at approximately $163,000. Finally, First Mercantile Trust Co. bought a new position in Trimble in the 1st quarter valued at approximately $176,000. 94.05% of the stock is owned by institutional investors.
In other news, CFO Robert G. Painter sold 5,300 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $44.00, for a total transaction of $233,200.00. Following the completion of the sale, the chief financial officer now directly owns 60,697 shares in the company, valued at $2,670,668. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Merit E. Janow sold 8,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $40.59, for a total transaction of $324,720.00. Following the sale, the director now owns 30,362 shares of the company’s stock, valued at $1,232,393.58. The disclosure for this sale can be found here. Insiders have sold 28,300 shares of company stock valued at $1,184,710 in the last ninety days. Insiders own 0.39% of the company’s stock.
Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $855.80 million during the quarter, compared to the consensus estimate of $864.69 million. Trimble had a net margin of 9.80% and a return on equity of 15.96%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, equities research analysts expect that Trimble Inc will post 1.7 EPS for the current fiscal year.
Several equities analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Wednesday, July 10th. Craig Hallum reaffirmed a “hold” rating and set a $35.00 price target (down previously from $36.00) on shares of Trimble in a research note on Thursday, August 1st. ValuEngine downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, BidaskClub downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $43.50.
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.
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