Trimble Inc. (NASDAQ:TRMB) Shares Purchased by CIBC World Markets Inc.

CIBC World Markets Inc. increased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 138.4% during the 1st quarter, HoldingsChannel reports. The fund owned 28,923 shares of the scientific and technical instruments company’s stock after acquiring an additional 16,793 shares during the quarter. CIBC World Markets Inc.’s holdings in Trimble were worth $2,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. UMA Financial Services Inc. boosted its position in shares of Trimble by 2.3% during the 4th quarter. UMA Financial Services Inc. now owns 6,138 shares of the scientific and technical instruments company’s stock valued at $445,000 after acquiring an additional 138 shares during the last quarter. Simmons Bank raised its holdings in Trimble by 1.0% in the 4th quarter. Simmons Bank now owns 15,265 shares of the scientific and technical instruments company’s stock valued at $1,019,000 after buying an additional 150 shares during the period. Whittier Trust Co. raised its holdings in Trimble by 18.6% in the 1st quarter. Whittier Trust Co. now owns 994 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 156 shares during the period. Cigna Investments Inc. New raised its holdings in Trimble by 2.6% in the 1st quarter. Cigna Investments Inc. New now owns 8,942 shares of the scientific and technical instruments company’s stock valued at $695,000 after buying an additional 228 shares during the period. Finally, Signaturefd LLC raised its holdings in Trimble by 20.7% in the 4th quarter. Signaturefd LLC now owns 1,735 shares of the scientific and technical instruments company’s stock valued at $116,000 after buying an additional 297 shares during the period. 90.09% of the stock is currently owned by hedge funds and other institutional investors.

TRMB stock opened at $78.76 on Friday. The stock’s 50 day moving average price is $79.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.83. Trimble Inc. has a fifty-two week low of $39.71 and a fifty-two week high of $84.86. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 45.01, a price-to-earnings-growth ratio of 3.79 and a beta of 1.53.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, May 5th. The scientific and technical instruments company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.09. Trimble had a net margin of 13.65% and a return on equity of 15.16%. The firm had revenue of $886.50 million for the quarter, compared to analyst estimates of $826.31 million. As a group, sell-side analysts forecast that Trimble Inc. will post 2.06 earnings per share for the current fiscal year.

TRMB has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on shares of Trimble from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. Craig Hallum boosted their price objective on shares of Trimble from $44.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, February 11th. Finally, Morgan Stanley boosted their price target on shares of Trimble from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $64.11.

In related news, VP James Joel Langley sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 20th. The shares were sold at an average price of $74.96, for a total transaction of $299,840.00. Following the sale, the vice president now directly owns 4,563 shares in the company, valued at $342,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. It operates through four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; 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; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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