Bank of America Corp DE Has $84.36 Million Holdings in Trimble Inc. $TRMB

Bank of America Corp DE lessened its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,293,329 shares of the scientific and technical instruments company’s stock after selling 100,116 shares during the quarter. Bank of America Corp DE’s holdings in Trimble were worth $84,364,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TRMB. Peapack Gladstone Financial Corp lifted its holdings in Trimble by 2.6% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock worth $381,000 after purchasing an additional 125 shares during the last quarter. Fiduciary Trust Co boosted its position in Trimble by 1.9% during the third quarter. Fiduciary Trust Co now owns 8,272 shares of the scientific and technical instruments company’s stock worth $675,000 after purchasing an additional 151 shares during the period. Larson Financial Group LLC grew its holdings in Trimble by 11.1% during the third quarter. Larson Financial Group LLC now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $126,000 after purchasing an additional 155 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Trimble by 0.4% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,540 shares of the scientific and technical instruments company’s stock valued at $3,098,000 after purchasing an additional 169 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Trimble by 55.4% in the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Buying and Selling

In related news, Director Kaigham Gabriel sold 1,718 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $103,080.00. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at $1,045,560. This represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.59% of the stock is currently owned by insiders.

Trimble Stock Performance

Shares of NASDAQ TRMB opened at $59.51 on Friday. Trimble Inc. has a 12 month low of $47.92 and a 12 month high of $84.65. The company has a market cap of $13.87 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.98 and a beta of 1.37. The business’s 50 day moving average is $53.25 and its two-hundred day moving average is $61.04. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.07. The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $905.60 million. Trimble had a return on equity of 11.61% and a net margin of 12.38%.Trimble’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. On average, equities analysts expect that Trimble Inc. will post 3.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRMB shares. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company lowered their target price on shares of Trimble from $70.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Raymond James Financial downgraded shares of Trimble from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Zacks Research cut shares of Trimble from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.62.

Trimble Company Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.