Trimble Inc. (NASDAQ:TRMB) Stake Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 50.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 325,704 shares of the scientific and technical instruments company’s stock after buying an additional 109,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trimble were worth $18,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Trimble by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after purchasing an additional 273,863 shares in the last quarter. Generation Investment Management LLP grew its position in Trimble by 89.5% during the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after purchasing an additional 5,796,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Trimble by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after purchasing an additional 126,472 shares in the last quarter. Primecap Management Co. CA grew its position in Trimble by 3.9% during the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after purchasing an additional 188,790 shares in the last quarter. Finally, FIL Ltd grew its position in Trimble by 5.2% during the 4th quarter. FIL Ltd now owns 3,588,699 shares of the scientific and technical instruments company’s stock worth $190,919,000 after purchasing an additional 178,375 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TRMB shares. JPMorgan Chase & Co. lowered their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Raymond James restated an “outperform” rating and set a $65.00 price target on shares of Trimble in a report on Wednesday, May 15th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.33.

Trimble Stock Up 0.7 %

Shares of TRMB stock traded up $0.41 on Friday, hitting $56.76. The company’s stock had a trading volume of 177,682 shares, compared to its average volume of 1,351,960. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The firm’s fifty day moving average price is $55.14 and its 200-day moving average price is $57.89. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 59.27, a P/E/G ratio of 2.55 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Research analysts anticipate that Trimble Inc. will post 2.22 EPS 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's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; 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; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.