Mackenzie Financial Corp Buys 15,191 Shares of Trimble Inc. (NASDAQ:TRMB)

Mackenzie Financial Corp boosted its stake in Trimble Inc. (NASDAQ:TRMBGet Rating) by 40.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 52,308 shares of the scientific and technical instruments company’s stock after acquiring an additional 15,191 shares during the quarter. Mackenzie Financial Corp’s holdings in Trimble were worth $3,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TRMB. Vanguard Group Inc. raised its stake in shares of Trimble by 1.3% during the first quarter. Vanguard Group Inc. now owns 27,575,624 shares of the scientific and technical instruments company’s stock valued at $1,989,305,000 after acquiring an additional 342,426 shares during the last quarter. BlackRock Inc. raised its stake in shares of Trimble by 1.7% during the first quarter. BlackRock Inc. now owns 18,849,775 shares of the scientific and technical instruments company’s stock valued at $1,359,823,000 after acquiring an additional 315,596 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Trimble by 101.0% during the first quarter. Select Equity Group L.P. now owns 8,194,587 shares of the scientific and technical instruments company’s stock valued at $591,158,000 after acquiring an additional 4,118,552 shares during the last quarter. Primecap Management Co. CA raised its stake in Trimble by 0.6% during the first quarter. Primecap Management Co. CA now owns 5,766,271 shares of the scientific and technical instruments company’s stock worth $415,979,000 after buying an additional 33,290 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Trimble by 0.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,376,309 shares of the scientific and technical instruments company’s stock worth $254,832,000 after buying an additional 31,695 shares during the last quarter. Institutional investors own 90.19% of the company’s stock.

Trimble Stock Up 0.4 %

Shares of NASDAQ TRMB opened at $57.99 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.72. The company has a 50-day moving average price of $56.90 and a 200-day moving average price of $61.58. Trimble Inc. has a 1 year low of $49.99 and a 1 year high of $89.79. The stock has a market capitalization of $14.30 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.04 and a beta of 1.57.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. lowered their target price on shares of Trimble from $64.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Wolfe Research started coverage on shares of Trimble in a report on Tuesday, August 16th. They issued a “market perform” rating for the company. Morgan Stanley reduced their price target on shares of Trimble from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, November 3rd. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday, November 3rd. Finally, TheStreet cut shares of Trimble from a “b-” rating to a “c+” rating in a report on Tuesday, October 11th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.83.

About Trimble

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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 route selection and design; 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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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