Securian Asset Management Inc. Decreases Stock Holdings in Trimble Inc. $TRMB

Securian Asset Management Inc. trimmed its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 3.5% in the 2nd quarter, Holdings Channel reports. The firm owned 12,473 shares of the scientific and technical instruments company’s stock after selling 446 shares during the period. Securian Asset Management Inc.’s holdings in Trimble were worth $948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TRMB. Brighton Jones LLC purchased a new position in shares of Trimble during the fourth quarter valued at approximately $211,000. GAMMA Investing LLC raised its holdings in shares of Trimble by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company’s stock valued at $346,000 after purchasing an additional 1,059 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company’s stock valued at $2,355,000 after buying an additional 2,397 shares during the last quarter. Blue Trust Inc. increased its holdings in Trimble by 137.8% during the first quarter. Blue Trust Inc. now owns 1,681 shares of the scientific and technical instruments company’s stock valued at $110,000 after buying an additional 974 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Trimble during the first quarter valued at approximately $465,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Barclays assumed coverage on shares of Trimble in a report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 target price for the company. Oppenheimer upped their target price on shares of Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $92.10.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 609 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares of the company’s stock, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 115,781 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares of the company’s stock, valued at $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,321 shares of company stock valued at $18,677,518. Corporate insiders own 0.54% of the company’s stock.

Trimble Stock Performance

TRMB opened at $80.70 on Friday. The firm has a market cap of $19.20 billion, a P/E ratio of 69.57, a PEG ratio of 3.25 and a beta of 1.65. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a 50 day simple moving average of $80.37 and a two-hundred day simple moving average of $75.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

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

Trimble Company 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.