Westside Investment Management Inc. Buys 2,965 Shares of Trimble Inc. $TRMB

Westside Investment Management Inc. increased its stake in Trimble Inc. (NASDAQ:TRMB) by 14.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,517 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,965 shares during the quarter. Westside Investment Management Inc.’s holdings in Trimble were worth $1,787,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Trimble in the first quarter worth $122,070,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 during the period. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Raymond James Financial Inc. boosted its holdings in shares of Trimble by 296.5% during the first quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company’s stock worth $48,680,000 after purchasing an additional 554,514 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Trimble by 85.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,112,322 shares of the scientific and technical instruments company’s stock worth $73,024,000 after buying an additional 511,200 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In related news, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the transaction, the vice president directly owned 406 shares in the company, valued at approximately $33,186.44. This trade represents a 94.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $75.65, for a total value of $567,375.00. Following the completion of the transaction, the chief executive officer owned 92,379 shares of the company’s stock, valued at approximately $6,988,471.35. The trade was a 7.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 224,321 shares of company stock valued at $18,677,518. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TRMB. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. 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 report on Thursday, August 7th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Barclays initiated coverage on shares of Trimble in a research note on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $92.10.

Trimble Price Performance

TRMB stock opened at $79.75 on Monday. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. The firm has a market cap of $18.98 billion, a P/E ratio of 68.75, a PEG ratio of 3.26 and a beta of 1.65. The stock’s 50 day moving average price is $80.21 and its 200 day moving average price is $76.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94.

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. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company had revenue of $856.50 million for the quarter. On average, sell-side analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

About Trimble

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.