D. E. Shaw & Co. Inc. Sells 303,261 Shares of Trimble Inc (NASDAQ:TRMB)

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D. E. Shaw & Co. Inc. lessened its position in shares of Trimble Inc (NASDAQ:TRMB) by 12.4% during the second quarter, HoldingsChannel.com reports. The fund owned 2,150,400 shares of the scientific and technical instruments company’s stock after selling 303,261 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Trimble were worth $97,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in Trimble during the 2nd quarter worth approximately $313,000. California State Teachers Retirement System increased its holdings in shares of Trimble by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 426,297 shares of the scientific and technical instruments company’s stock worth $19,230,000 after buying an additional 9,802 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Trimble in the 2nd quarter worth $4,654,000. Man Group plc increased its holdings in shares of Trimble by 10.0% in the 2nd quarter. Man Group plc now owns 9,994 shares of the scientific and technical instruments company’s stock worth $451,000 after buying an additional 909 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Trimble by 6.5% in the 2nd quarter. Invesco Ltd. now owns 1,709,100 shares of the scientific and technical instruments company’s stock worth $77,098,000 after buying an additional 104,615 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Ronald Bisio sold 4,265 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $38.14, for a total value of $162,667.10. Following the completion of the sale, the vice president now owns 8,953 shares of the company’s stock, valued at approximately $341,467.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James A. Kirkland sold 2,700 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $38.01, for a total transaction of $102,627.00. Following the completion of the sale, the senior vice president now directly owns 54,036 shares of the company’s stock, valued at approximately $2,053,908.36. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently commented on TRMB shares. Craig Hallum reissued a “hold” rating and issued a $35.00 price target (down previously from $36.00) on shares of Trimble in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered shares of Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Wednesday, July 10th. BidaskClub raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, ValuEngine lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Trimble currently has a consensus rating of “Hold” and an average target price of $43.50.

Shares of NASDAQ:TRMB traded down $0.07 during trading on Friday, reaching $38.56. The company had a trading volume of 1,214,939 shares, compared to its average volume of 844,029. The company has a fifty day moving average of $37.89 and a two-hundred day moving average of $40.86. The stock has a market capitalization of $9.85 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 2.30 and a beta of 2.01. Trimble Inc has a 12 month low of $29.75 and a 12 month high of $46.25. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. The firm had revenue of $855.80 million for the quarter, compared to analyst estimates of $864.69 million. Trimble had a net margin of 9.80% and a return on equity of 15.96%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, equities research analysts predict that Trimble Inc will post 1.7 earnings per share for the current year.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in 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; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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