State Street Corp Cuts Position in Trimble Inc (NASDAQ:TRMB)

State Street Corp lessened its position in shares of Trimble Inc (NASDAQ:TRMB) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,494,894 shares of the scientific and technical instruments company’s stock after selling 46,962 shares during the quarter. State Street Corp’s holdings in Trimble were worth $329,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in Trimble by 68.3% during the 3rd quarter. Parallel Advisors LLC now owns 806 shares of the scientific and technical instruments company’s stock valued at $31,000 after buying an additional 327 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Trimble by 4.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,650 shares of the scientific and technical instruments company’s stock worth $375,000 after purchasing an additional 400 shares during the period. CSat Investment Advisory L.P. purchased a new position in shares of Trimble in the 2nd quarter worth approximately $26,000. Advisory Services Network LLC boosted its holdings in shares of Trimble by 347.1% in the 2nd quarter. Advisory Services Network LLC now owns 760 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 590 shares during the period. Finally, Texas Permanent School Fund boosted its holdings in shares of Trimble by 0.4% in the 3rd quarter. Texas Permanent School Fund now owns 171,378 shares of the scientific and technical instruments company’s stock worth $6,651,000 after purchasing an additional 607 shares during the period. Institutional investors and hedge funds own 89.49% of the company’s stock.

In related news, SVP James A. Kirkland sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $38.01, for a total transaction of $102,627.00. Following the completion of the sale, the senior vice president now directly owns 54,036 shares of the company’s stock, valued at approximately $2,053,908.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Darryl R. Matthews sold 5,362 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $40.01, for a total value of $214,533.62. Following the sale, the senior vice president now directly owns 23,933 shares of the company’s stock, valued at $957,559.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 349,298 shares of company stock valued at $14,024,929. Company insiders own 0.39% of the company’s stock.

Shares of Trimble stock opened at $40.40 on Tuesday. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.22 and a beta of 2.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a 50 day moving average price of $39.78 and a 200-day moving average price of $40.39. Trimble Inc has a one year low of $29.75 and a one year high of $46.25.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. The firm had revenue of $874.30 million during the quarter, compared to analysts’ expectations of $807.49 million. Trimble had a return on equity of 15.63% and a net margin of 9.97%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. Sell-side analysts predict that Trimble Inc will post 1.68 earnings per share for the current fiscal year.

Separately, BidaskClub cut Trimble from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, Trimble currently has an average rating of “Hold” and an average price target of $42.33.

Trimble Profile

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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