Trimble Inc (TRMB) Holdings Raised by Pinebridge Investments L.P.
Pinebridge Investments L.P. raised its holdings in shares of Trimble Inc (NASDAQ:TRMB) by 1,940.6% in the fourth quarter, HoldingsChannel reports. The firm owned 51,015 shares of the scientific and technical instruments company’s stock after buying an additional 48,515 shares during the period. Pinebridge Investments L.P.’s holdings in Trimble were worth $2,073,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cerebellum GP LLC acquired a new stake in Trimble during the 4th quarter valued at approximately $125,000. Toronto Dominion Bank grew its stake in Trimble by 13.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 357 shares in the last quarter. Advisory Services Network LLC grew its stake in Trimble by 3,428.1% during the 4th quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 3,051 shares in the last quarter. Fieldpoint Private Securities LLC acquired a new stake in Trimble during the 3rd quarter valued at approximately $137,000. Finally, Armor Investment Advisors LLC acquired a new stake in Trimble during the 4th quarter valued at approximately $203,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.
A number of equities research analysts have weighed in on TRMB shares. Wells Fargo & Co raised their price objective on Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. 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 research note on Tuesday, December 26th. 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 research note on Sunday, October 29th. BidaskClub downgraded Trimble from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Finally, Oppenheimer increased their target price on Trimble from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $42.10.
Trimble Inc (NASDAQ TRMB) opened at $38.28 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.33. Trimble Inc has a 1-year low of $30.45 and a 1-year high of $45.70. The company has a market capitalization of $9,530.00, a P/E ratio of 47.26, a price-to-earnings-growth ratio of 2.34 and a beta of 2.38.
Trimble (NASDAQ:TRMB) last released its earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The company had revenue of $708.40 million for the quarter, compared to the consensus estimate of $674.84 million. During the same quarter last year, the business posted $0.31 EPS. Trimble’s quarterly revenue was up 21.0% compared to the same quarter last year. sell-side analysts expect that Trimble Inc will post 1.5 earnings per share for the current year.
Trimble announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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Trimble Company Profile
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.
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