AE Wealth Management LLC Makes New $769,000 Investment in Trimble Inc. (NASDAQ:TRMB)

AE Wealth Management LLC bought a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,715 shares of the scientific and technical instruments company's stock, valued at approximately $769,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wakefield Asset Management LLLP acquired a new stake in shares of Trimble in the 1st quarter valued at about $219,000. Venturi Wealth Management LLC raised its stake in shares of Trimble by 128.9% in the 1st quarter. Venturi Wealth Management LLC now owns 3,223 shares of the scientific and technical instruments company's stock valued at $212,000 after purchasing an additional 1,815 shares during the period. Oak Thistle LLC increased its position in shares of Trimble by 301.6% in the first quarter. Oak Thistle LLC now owns 23,051 shares of the scientific and technical instruments company's stock valued at $1,513,000 after acquiring an additional 17,311 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Trimble by 1.1% in the first quarter. KLP Kapitalforvaltning AS now owns 146,876 shares of the scientific and technical instruments company's stock valued at $9,642,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Trimble by 5.8% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 273,371 shares of the scientific and technical instruments company's stock valued at $17,947,000 after acquiring an additional 15,038 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Performance

NASDAQ TRMB traded down $1.86 during trading on Friday, reaching $82.03. 707,808 shares of the company's stock were exchanged, compared to its average volume of 1,541,506. The business has a 50 day moving average price of $76.47 and a 200-day moving average price of $71.16. The stock has a market capitalization of $19.57 billion, a P/E ratio of 13.38, a PEG ratio of 3.63 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $86.42.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The company had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRMB shares. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Oppenheimer lifted their target price on Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trimble currently has a consensus rating of "Buy" and a consensus target price of $89.14.

Insider Transactions at Trimble

In other news, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares in the company, valued at $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,047 shares of company stock worth $1,538,152. Insiders own 0.54% of the company's stock.

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.