Bridgefront Capital LLC Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

Bridgefront Capital LLC acquired a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,761 shares of the scientific and technical instruments company's stock, valued at approximately $1,114,000.

Several other institutional investors have also added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. purchased a new stake in shares of Trimble in the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Trimble in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble in the fourth quarter worth about $36,000. Larson Financial Group LLC increased its stake in Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after purchasing an additional 422 shares during the period. Finally, Friedenthal Financial purchased a new stake in Trimble during the 4th quarter valued at $49,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

Trimble Stock Performance

Shares of TRMB stock traded up $0.74 during trading hours on Friday, reaching $68.12. 1,729,318 shares of the company traded hands, compared to its average volume of 1,395,785. The company has a market cap of $16.25 billion, a P/E ratio of 11.19, a P/E/G ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The firm has a 50-day moving average price of $63.87 and a 200 day moving average price of $68.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, sell-side analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. StockNews.com downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Oppenheimer upped their target price on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $86.00.

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.