King Luther Capital Management Corp Reduces Position in Trimble Inc. (NASDAQ:TRMB)

King Luther Capital Management Corp trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,382,419 shares of the scientific and technical instruments company’s stock after selling 46,269 shares during the period. Trimble comprises 1.1% of King Luther Capital Management Corp’s portfolio, making the stock its 25th largest position. King Luther Capital Management Corp owned 1.79% of Trimble worth $245,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its stake in Trimble by 233.7% in the second quarter. Canada Pension Plan Investment Board now owns 77,741 shares of the scientific and technical instruments company’s stock worth $4,347,000 after buying an additional 54,443 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Trimble by 8.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 22,769 shares of the scientific and technical instruments company’s stock valued at $1,273,000 after purchasing an additional 1,753 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Trimble by 29.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,609 shares of the scientific and technical instruments company’s stock valued at $370,000 after purchasing an additional 1,510 shares in the last quarter. Brighton Jones LLC purchased a new stake in Trimble in the second quarter worth $203,000. Finally, Intech Investment Management LLC bought a new position in Trimble in the second quarter worth $269,000. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 3.7 %

Trimble stock opened at $60.20 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The firm has a market capitalization of $14.70 billion, a price-to-earnings ratio of 62.71, a P/E/G ratio of 2.63 and a beta of 1.48. The firm has a 50 day moving average of $55.24 and a 200 day moving average of $57.48.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. As a group, research analysts predict that Trimble Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of recent research reports. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird upped their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Finally, Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Company Profile

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.