Chevy Chase Trust Holdings LLC Has $9.58 Million Position in Trimble Inc. $TRMB

Chevy Chase Trust Holdings LLC reduced its stake in Trimble Inc. (NASDAQ:TRMB) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,020 shares of the scientific and technical instruments company’s stock after selling 2,886 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Trimble worth $9,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flaharty Asset Management LLC acquired a new position in shares of Trimble in the first quarter valued at about $45,000. Ameritas Advisory Services LLC acquired a new position in shares of Trimble in the second quarter valued at about $48,000. Steph & Co. grew its stake in shares of Trimble by 592.0% in the second quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 592 shares in the last quarter. State of Wyoming acquired a new position in shares of Trimble in the first quarter valued at about $58,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after acquiring an additional 591 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several research reports. Barclays initiated coverage on shares of Trimble in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Berenberg Bank set a $95.00 price target on shares of Trimble and gave the company a “buy” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $92.10.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares of the company’s stock, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the transaction, the vice president directly owned 406 shares of the company’s stock, valued at $33,186.44. This trade represents a 94.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 224,321 shares of company stock valued at $18,677,518. 0.54% of the stock is currently owned by insiders.

Trimble Trading Down 0.6%

Shares of Trimble stock opened at $77.40 on Monday. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 66.72, a PEG ratio of 3.18 and a beta of 1.65. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The firm’s 50-day moving average price is $80.70 and its two-hundred day moving average price is $74.79.

Trimble (NASDAQ:TRMB) last posted its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The firm 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%. On average, 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.