Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 325.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,841 shares of the scientific and technical instruments company's stock after acquiring an additional 225,611 shares during the quarter. Allianz Asset Management GmbH owned about 0.12% of Trimble worth $19,356,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TRMB. Norges Bank acquired a new position in shares of Trimble during the fourth quarter valued at about $190,391,000. Select Equity Group L.P. increased its holdings in shares of Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Trimble by 338.8% during the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock valued at $53,564,000 after acquiring an additional 629,960 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Trimble by 69.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after acquiring an additional 520,980 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Trimble by 1,064.6% in the 4th quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company's stock worth $32,257,000 after buying an additional 417,313 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

Trimble stock traded up $1.05 during mid-day trading on Friday, hitting $85.24. The company had a trading volume of 1,873,724 shares, compared to its average volume of 1,563,915. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $85.30. The company's fifty day moving average is $75.41 and its 200-day moving average is $70.80. The company has a market capitalization of $20.34 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 3.59 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The business had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. Equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Robert G. Painter sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,059,357.94. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director owned 17,939 shares in the company, valued at $1,286,046.91. This trade represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,047 shares of company stock worth $1,538,152. Corporate insiders own 0.54% of the company's stock.

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.