AGF Investments Inc. Has $2.28 Million Holdings in Trimble Inc (NASDAQ:TRMB)

AGF Investments Inc. lessened its holdings in shares of Trimble Inc (NASDAQ:TRMB) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,460 shares of the scientific and technical instruments company’s stock after selling 12,658 shares during the quarter. AGF Investments Inc.’s holdings in Trimble were worth $2,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRMB. Norges Bank acquired a new position in Trimble during the fourth quarter worth approximately $94,412,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Trimble by 160.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,600,112 shares of the scientific and technical instruments company’s stock worth $114,592,000 after buying an additional 2,220,047 shares during the last quarter. New York State Common Retirement Fund increased its position in Trimble by 152.5% during the first quarter. New York State Common Retirement Fund now owns 1,518,652 shares of the scientific and technical instruments company’s stock worth $48,339,000 after buying an additional 917,152 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in Trimble during the fourth quarter worth approximately $33,493,000. Finally, Parnassus Investments CA increased its position in Trimble by 7.4% during the fourth quarter. Parnassus Investments CA now owns 11,359,400 shares of the scientific and technical instruments company’s stock worth $473,573,000 after buying an additional 784,810 shares during the last quarter. 85.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TRMB stock opened at $39.33 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $9.84 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 3.47 and a beta of 1.64. The stock has a 50 day simple moving average of $33.73 and a 200 day simple moving average of $38.34. Trimble Inc has a 1 year low of $20.01 and a 1 year high of $46.67.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. The business had revenue of $794.00 million during the quarter, compared to analysts’ expectations of $773.19 million. Trimble had a return on equity of 15.44% and a net margin of 15.79%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. Analysts forecast that Trimble Inc will post 1.51 EPS for the current year.

In other Trimble news, VP Michael Bank sold 6,700 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $39.54, for a total transaction of $264,918.00. Following the completion of the sale, the vice president now directly owns 18,632 shares in the company, valued at $736,709.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price target on Trimble from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. BidaskClub downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. Oppenheimer upped their target price on Trimble from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Needham & Company LLC upped their target price on Trimble from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Goldman Sachs Group decreased their target price on Trimble from $53.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.63.

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 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.

Recommended Story: Key terms to understand channel trading

Want to see what other hedge funds are holding TRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trimble Inc (NASDAQ:TRMB).

Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

Receive News & Ratings for Trimble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble and related companies with MarketBeat.com's FREE daily email newsletter.