Principal Financial Group Inc. Cuts Holdings in Trimble Inc (TRMB)

Principal Financial Group Inc. lowered its position in shares of Trimble Inc (NASDAQ:TRMB) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,096,992 shares of the scientific and technical instruments company’s stock after selling 12,048 shares during the quarter. Principal Financial Group Inc.’s holdings in Trimble were worth $36,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Trimble by 24,279.4% during the third quarter. Bank of New York Mellon Corp now owns 3,787,337 shares of the scientific and technical instruments company’s stock valued at $164,597,000 after purchasing an additional 3,771,802 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Trimble by 3,229.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,272,537 shares of the scientific and technical instruments company’s stock valued at $99,000 after purchasing an additional 3,174,232 shares during the last quarter. Capital International Investors grew its holdings in shares of Trimble by 38.2% during the third quarter. Capital International Investors now owns 11,285,352 shares of the scientific and technical instruments company’s stock valued at $490,461,000 after purchasing an additional 3,121,423 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of Trimble by 95.0% during the third quarter. Select Equity Group L.P. now owns 3,645,708 shares of the scientific and technical instruments company’s stock valued at $158,442,000 after purchasing an additional 1,776,477 shares during the last quarter. Finally, Capital World Investors bought a new position in shares of Trimble during the third quarter valued at approximately $65,199,000. Hedge funds and other institutional investors own 91.26% of the company’s stock.

Several research firms have recently commented on TRMB. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $41.00 to $40.00 in a report on Thursday, January 10th. BidaskClub lowered Trimble from a “hold” rating to a “sell” rating in a report on Wednesday, December 12th. Finally, Zacks Investment Research raised Trimble from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.00.



Shares of TRMB stock opened at $39.43 on Monday. Trimble Inc has a 12-month low of $29.75 and a 12-month high of $44.55. The company has a market capitalization of $9.92 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 2.04 and a beta of 2.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.03 and a quick ratio of 0.75.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, February 6th. The scientific and technical instruments company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Trimble had a return on equity of 16.48% and a net margin of 9.10%. The business had revenue of $792.90 million during the quarter, compared to analyst estimates of $809.82 million. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Trimble Inc will post 1.84 EPS for the current fiscal year.

In other Trimble news, insider Rosalind D. Buick sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.50, for a total value of $405,000.00. Following the completion of the sale, the insider now directly owns 12,055 shares in the company, valued at $488,227.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven W. Berglund sold 381,675 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $37.73, for a total value of $14,400,597.75. Following the completion of the sale, the chief executive officer now owns 574,467 shares of the company’s stock, valued at $21,674,639.91. The disclosure for this sale can be found here. Insiders sold a total of 625,336 shares of company stock valued at $23,979,921 over the last three months. Corporate insiders own 0.36% of the company’s stock.

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About Trimble

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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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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