Wells Fargo & Company MN reduced its holdings in Trimble Inc (NASDAQ:TRMB) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 243,555 shares of the scientific and technical instruments company’s stock after selling 14,303 shares during the quarter. Wells Fargo & Company MN owned about 0.10% of Trimble worth $9,559,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of Trimble by 3.7% during the second quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 144 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Trimble by 2.4% during the second quarter. Nordea Investment Management AB now owns 9,588 shares of the scientific and technical instruments company’s stock valued at $342,000 after acquiring an additional 226 shares in the last quarter. Symphony Asset Management LLC increased its holdings in shares of Trimble by 0.6% during the second quarter. Symphony Asset Management LLC now owns 48,938 shares of the scientific and technical instruments company’s stock valued at $1,746,000 after acquiring an additional 295 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Trimble by 13.0% during the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 357 shares in the last quarter. Finally, FTB Advisors Inc. increased its holdings in shares of Trimble by 4.4% during the second quarter. FTB Advisors Inc. now owns 9,141 shares of the scientific and technical instruments company’s stock valued at $326,000 after acquiring an additional 382 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday. BidaskClub downgraded Trimble from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Trimble in a report on Sunday, October 29th. Oppenheimer upped their price target on Trimble from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Wells Fargo & Co upped their price target on Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Trimble has a consensus rating of “Buy” and an average price target of $41.60.

Trimble Inc (NASDAQ:TRMB) opened at $40.41 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble Inc has a 1 year low of $28.61 and a 1 year high of $43.97. The firm has a market capitalization of $10,198.85, a price-to-earnings ratio of 53.17, a price-to-earnings-growth ratio of 2.84 and a beta of 2.35.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Trimble had a return on equity of 12.97% and a net margin of 7.66%. The business had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. equities analysts expect that Trimble Inc will post 1.27 EPS for the current year.

Trimble declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, Director Ronald S. Nersesian sold 55,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $40.13, for a total transaction of $2,207,150.00. Following the sale, the director now directly owns 46,820 shares in the company, valued at approximately $1,878,886.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jurgen Kliem sold 995 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $42.50, for a total value of $42,287.50. Following the sale, the vice president now owns 18,175 shares in the company, valued at $772,437.50. The disclosure for this sale can be found here. Insiders have sold a total of 320,278 shares of company stock worth $12,969,243 in the last ninety days. Insiders own 1.40% of the company’s stock.

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About Trimble

Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.

Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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