Allspring Global Investments Holdings LLC Buys 4,185 Shares of Trimble Inc. (NASDAQ:TRMB)

Allspring Global Investments Holdings LLC grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,719 shares of the scientific and technical instruments company's stock after purchasing an additional 4,185 shares during the period. Allspring Global Investments Holdings LLC's holdings in Trimble were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRMB. Vanguard Group Inc. grew its stake in Trimble by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company's stock valued at $2,099,064,000 after acquiring an additional 183,150 shares during the period. Select Equity Group L.P. lifted its holdings in shares of 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 purchasing an additional 1,857,517 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Trimble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock worth $425,427,000 after purchasing an additional 138,136 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Trimble by 2.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after purchasing an additional 134,277 shares during the period. Finally, Contour Asset Management LLC increased its stake in Trimble by 4.4% during the 4th quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock valued at $330,772,000 after purchasing an additional 197,913 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Insider Activity

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated 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 transaction, the director owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $88.43.

Trimble Stock Performance

NASDAQ:TRMB traded down $0.25 during trading hours on Monday, reaching $78.63. The stock had a trading volume of 1,269,839 shares, compared to its average volume of 1,393,365. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $79.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The stock has a 50 day simple moving average of $70.97 and a 200 day simple moving average of $69.73. The stock has a market cap of $18.76 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 3.36 and a beta of 1.67.

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 for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The firm had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same quarter last year, the business earned $0.64 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

About Trimble

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.