111 Capital Buys New Stake in Trimble Inc. (NASDAQ:TRMB)

111 Capital purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,439 shares of the scientific and technical instruments company's stock, valued at approximately $1,162,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Trimble in the fourth quarter worth about $190,391,000. Boston Partners raised its position in shares of Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock worth $239,802,000 after purchasing an additional 2,312,937 shares during the period. Select Equity Group L.P. grew its holdings in Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after buying an additional 1,857,517 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Trimble in the 4th quarter worth approximately $50,041,000. Finally, JPMorgan Chase & Co. grew its holdings in Trimble by 69.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock worth $89,837,000 after buying an additional 520,980 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRMB. Piper Sandler reiterated an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Oppenheimer increased their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Trimble currently has an average rating of "Buy" and a consensus target price of $88.43.

Trimble Stock Up 0.2%

TRMB stock traded up $0.15 during trading hours on Thursday, reaching $71.66. 991,512 shares of the stock were exchanged, compared to its average volume of 1,395,090. The firm's 50-day moving average is $64.47 and its 200-day moving average is $69.64. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.09 and a beta of 1.67. 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 Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

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 business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. Trimble's revenue was down 11.8% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director now directly owns 17,939 shares in the company, valued at $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

Trimble 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.