Axxcess Wealth Management LLC Invests $228,000 in Trimble Inc. $TRMB

Axxcess Wealth Management LLC bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the scientific and technical instruments company’s stock, valued at approximately $228,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock worth $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Trimble by 26.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock worth $458,113,000 after purchasing an additional 1,445,851 shares in the last quarter. Invesco Ltd. boosted its position in Trimble by 9.7% during the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company’s stock worth $252,132,000 after purchasing an additional 339,750 shares in the last quarter. Boston Partners boosted its position in Trimble by 7.9% during the first quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company’s stock worth $237,884,000 after purchasing an additional 267,829 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Trimble by 19.8% during the first quarter. Northern Trust Corp now owns 3,084,937 shares of the scientific and technical instruments company’s stock worth $202,526,000 after purchasing an additional 510,509 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TRMB shares. Barclays started coverage on Trimble in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Oppenheimer upped their target price on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $92.10.

Trimble Trading Down 0.6%

Shares of TRMB opened at $77.40 on Friday. The stock has a fifty day moving average of $80.70 and a two-hundred day moving average of $74.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The company has a market capitalization of $18.42 billion, a PE ratio of 66.72, a price-to-earnings-growth ratio of 3.18 and a beta of 1.65. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. The company had revenue of $856.50 million during the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%. As a group, analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at Trimble

In other news, Director James Calvin Dalton sold 609 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares in the company, valued at $1,137,999.69. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher F. Keating sold 7,365 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $81.74, for a total value of $602,015.10. Following the sale, the vice president owned 406 shares of the company’s stock, valued at approximately $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 224,321 shares of company stock worth $18,677,518. Insiders own 0.54% of the company’s stock.

Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.