Louisiana State Employees Retirement System decreased its stake in Trimble Inc (NASDAQ:TRMB) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,700 shares of the scientific and technical instruments company’s stock after selling 3,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Trimble were worth $2,589,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Trimble by 13.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 84,290 shares of the scientific and technical instruments company’s stock worth $3,426,000 after purchasing an additional 10,250 shares during the period. KAMES CAPITAL plc lifted its position in Trimble by 238.9% in the fourth quarter. KAMES CAPITAL plc now owns 763,144 shares of the scientific and technical instruments company’s stock worth $31,014,000 after purchasing an additional 537,988 shares during the period. Trust Co bought a new position in Trimble in the third quarter worth $231,000. First Citizens Bank & Trust Co. lifted its position in Trimble by 6.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 30,345 shares of the scientific and technical instruments company’s stock worth $1,233,000 after purchasing an additional 1,877 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in Trimble by 19.3% in the third quarter. Parametric Portfolio Associates LLC now owns 454,402 shares of the scientific and technical instruments company’s stock worth $17,835,000 after purchasing an additional 73,629 shares during the period. Institutional investors and hedge funds own 90.72% of the company’s stock.
Trimble Inc (NASDAQ TRMB) opened at $43.12 on Wednesday. The stock has a market capitalization of $10,920.00, a price-to-earnings ratio of 56.74, a price-to-earnings-growth ratio of 2.64 and a beta of 2.36. Trimble Inc has a twelve month low of $28.61 and a twelve month high of $43.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.44.
Trimble declared that its board has initiated a share buyback plan on Wednesday, November 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, SVP Sachin Sankpal sold 6,512 shares of Trimble stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $41.99, for a total value of $273,438.88. Following the completion of the transaction, the senior vice president now directly owns 17,997 shares of the company’s stock, valued at $755,694.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven W. Berglund sold 200,000 shares of Trimble stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $40.45, for a total value of $8,090,000.00. Following the completion of the transaction, the chief executive officer now directly owns 350,489 shares of the company’s stock, valued at $14,177,280.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,278 shares of company stock valued at $12,969,243. Company insiders own 1.40% of the company’s stock.
Several brokerages recently commented on TRMB. Piper Jaffray Companies set a $43.00 target price on Trimble and gave the stock a “buy” rating in a research report on Sunday, October 1st. Robert W. Baird raised their target price on Trimble from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, September 22nd. Oppenheimer reaffirmed a “buy” rating on shares of Trimble in a research report on Thursday, October 19th. Zacks Investment Research raised Trimble from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Tuesday, October 31st. Finally, Wells Fargo & Co raised their target price on Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.60.
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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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