MANA Advisors LLC purchased a new stake in shares of Trimble Inc (NASDAQ:TRMB) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 8,166 shares of the scientific and technical instruments company’s stock, valued at approximately $331,000.
Several other institutional investors have also recently made changes to their positions in TRMB. Cerebellum GP LLC acquired a new stake in shares of Trimble during the 4th quarter valued at about $125,000. Advisory Services Network LLC raised its stake in shares of Trimble by 3,428.1% in the 4th quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock valued at $128,000 after acquiring an additional 3,051 shares in the last quarter. Delpha Capital Management LLC bought a new position in shares of Trimble in the 4th quarter valued at approximately $134,000. Fieldpoint Private Securities LLC bought a new position in shares of Trimble in the 3rd quarter valued at approximately $137,000. Finally, Armor Investment Advisors LLC bought a new position in shares of Trimble in the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 90.00% of the company’s stock.
Trimble Inc (NASDAQ TRMB) opened at $39.45 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $9,794.11, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.34 and a beta of 2.41. Trimble Inc has a 1 year low of $30.45 and a 1 year high of $45.70.
Trimble declared that its Board of Directors has approved a stock buyback program on Wednesday, November 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently weighed in on TRMB. BidaskClub raised Trimble from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Oppenheimer reissued a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Trimble in a research note on Wednesday, January 31st. Zacks Investment Research raised Trimble from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, TheStreet downgraded Trimble from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Trimble has a consensus rating of “Hold” and an average price target of $42.10.
In other Trimble news, Director Ulf J. Johansson sold 50,000 shares of Trimble stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $38.07, for a total value of $1,903,500.00. Following the transaction, the director now directly owns 42,670 shares of the company’s stock, valued at approximately $1,624,446.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Steven W. Berglund sold 200,000 shares of Trimble stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $39.25, for a total value of $7,850,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 471,946 shares of company stock worth $18,558,140. Company insiders own 1.40% of the company’s stock.
Trimble Company Profile
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.
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