Generation Investment Management LLP Sells 1,849,318 Shares of Trimble Inc. (NASDAQ:TRMB)

Generation Investment Management LLP cut its holdings in Trimble Inc. (NASDAQ:TRMB) by 24.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,563,996 shares of the scientific and technical instruments company’s stock after selling 1,849,318 shares during the period. Trimble accounts for 1.8% of Generation Investment Management LLP’s portfolio, making the stock its 26th largest holding. Generation Investment Management LLP owned 2.22% of Trimble worth $432,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Trimble during the 4th quarter valued at $184,236,000. ARK Investment Management LLC raised its position in shares of Trimble by 150.9% during the 1st quarter. ARK Investment Management LLC now owns 2,810,249 shares of the scientific and technical instruments company’s stock valued at $218,609,000 after purchasing an additional 1,690,309 shares during the period. Waddell & Reed Financial Inc. bought a new stake in shares of Trimble during the 1st quarter valued at $120,186,000. Geode Capital Management LLC raised its position in shares of Trimble by 46.7% during the 1st quarter. Geode Capital Management LLC now owns 4,541,210 shares of the scientific and technical instruments company’s stock valued at $352,384,000 after purchasing an additional 1,445,343 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Trimble by 957.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,269,556 shares of the scientific and technical instruments company’s stock valued at $84,768,000 after purchasing an additional 1,149,475 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

In other news, VP James Joel Langley sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $74.96, for a total value of $299,840.00. Following the completion of the sale, the vice president now owns 4,563 shares in the company, valued at approximately $342,042.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Several brokerages have recently commented on TRMB. Robert W. Baird raised their price objective on shares of Trimble from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, May 6th. Morgan Stanley lifted their price objective 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.11.

Shares of NASDAQ:TRMB traded down $0.31 on Thursday, reaching $82.13. The company’s stock had a trading volume of 11,672 shares, compared to its average volume of 838,220. The business has a 50-day moving average price of $79.41. The company has a market cap of $20.61 billion, a P/E ratio of 47.11, a P/E/G ratio of 3.91 and a beta of 1.52. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Trimble Inc. has a 52-week low of $43.92 and a 52-week high of $84.86.

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

About Trimble

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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