Daiwa Securities Group Inc. lessened its holdings in shares of Trimble Inc (NASDAQ:TRMB) by 36.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,100 shares of the scientific and technical instruments company’s stock after selling 4,600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Trimble were worth $329,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in TRMB. Ark Investment Management LLC grew its stake in Trimble by 38.0% during the 2nd quarter. Ark Investment Management LLC now owns 48,462 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after acquiring an additional 13,357 shares in the last quarter. Advisor Group Inc. grew its stake in Trimble by 3.7% during the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 144 shares in the last quarter. Royal Bank of Canada grew its stake in Trimble by 12.8% during the 2nd quarter. Royal Bank of Canada now owns 77,810 shares of the scientific and technical instruments company’s stock valued at $2,776,000 after acquiring an additional 8,852 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Trimble by 5.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,052 shares of the scientific and technical instruments company’s stock valued at $359,000 after acquiring an additional 521 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Trimble during the 2nd quarter valued at about $266,000. 89.78% of the stock is currently owned by institutional investors.
In related news, CEO Steven W. Berglund sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $39.66, for a total value of $7,932,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark S. Peek sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $39.80, for a total value of $398,000.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,393,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,507 shares of company stock valued at $16,495,726. Corporate insiders own 1.40% of the company’s stock.
Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Trimble had a negative return on equity of 5.70% and a negative net margin of 4.93%. The business had revenue of $708.40 million during the quarter, compared to analyst estimates of $674.84 million. During the same period in the previous year, the company earned $0.31 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. sell-side analysts anticipate that Trimble Inc will post 1.5 earnings per share for the current year.
Trimble announced that its board has authorized a stock buyback program on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target (up from $42.00) on shares of Trimble in a report on Sunday, October 29th. Oppenheimer reiterated a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Trimble in a report on Wednesday, January 31st. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, October 31st. TheStreet lowered Trimble from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Finally, Wells Fargo & Co lifted their price target on Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.10.
TRADEMARK VIOLATION WARNING: “Trimble Inc (TRMB) Shares Sold by Daiwa Securities Group Inc.” was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.chaffeybreeze.com/2018/02/20/trimble-inc-trmb-shares-sold-by-daiwa-securities-group-inc.html.
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
Want to see what other hedge funds are holding TRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trimble Inc (NASDAQ:TRMB).
Receive News & Ratings for Trimble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble and related companies with MarketBeat.com's FREE daily email newsletter.