Fox Run Management L.L.C. Makes New Investment in Trimble Inc. $TRMB

Key Points

• Fox Run Management L.L.C. has acquired 10,054 shares of Trimble Inc. (NASDAQ:TRMB), valued at approximately $660,000.
• Wall Street analysts are optimistic about Trimble's prospects, with multiple analysts raising their ratings and target prices, indicating a consensus buy rating.
• In the latest earnings report, Trimble exceeded expectations with an EPS of $0.71, beating analysts' forecasts, and reported a revenue increase of 0.6% year-over-year.

Fox Run Management L.L.C. bought a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,054 shares of the scientific and technical instruments company's stock, valued at approximately $660,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division increased its position in shares of Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Putney Financial Group LLC bought a new stake in Trimble in the 4th quarter worth about $51,000. Quarry LP grew its position in Trimble by 121.8% in the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after purchasing an additional 402 shares in the last quarter. Farther Finance Advisors LLC grew its position in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after purchasing an additional 591 shares in the last quarter. Finally, Friedenthal Financial grew its position in Trimble by 64.7% in the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after purchasing an additional 453 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Trimble

In related news, VP Mark David Schwartz sold 1,404 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the sale, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. This represents a 6.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director owned 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,894 shares of company stock valued at $18,996,091. 0.54% of the stock is owned by corporate insiders.

Trimble Stock Performance

Shares of TRMB stock traded down $1.68 during trading on Tuesday, reaching $81.12. 2,139,505 shares of the company's stock traded hands, compared to its average volume of 2,054,260. The company has a market capitalization of $19.30 billion, a P/E ratio of 69.93, a PEG ratio of 3.40 and a beta of 1.69. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The firm's 50-day moving average is $79.48 and its 200 day moving average is $71.85. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Trimble's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. Equities research analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Oppenheimer upped their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, Trimble presently has an average rating of "Buy" and an average target price of $90.50.

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.