Azzad Asset Management Inc. ADV Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

Azzad Asset Management Inc. ADV acquired a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 40,807 shares of the scientific and technical instruments company's stock, valued at approximately $2,679,000.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Trimble by 0.6% in the 4th 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 buying an additional 183,150 shares during the last quarter. Select Equity Group L.P. raised 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 valued at $717,506,000 after buying an additional 1,857,517 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 valued at $425,427,000 after buying an additional 138,136 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Trimble by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company's stock valued at $400,312,000 after buying an additional 222,679 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trimble by 2.5% during 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 worth $390,909,000 after purchasing an additional 134,277 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Insider Buying and Selling at Trimble

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 now owns 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. Insiders own 0.54% of the company's stock.

Trimble Stock Performance

Shares of NASDAQ TRMB traded down $1.28 during mid-day trading on Friday, reaching $71.08. 753,171 shares of the company's stock were exchanged, compared to its average volume of 1,376,577. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The firm has a 50-day moving average price of $66.30 and a two-hundred day moving average price of $69.65.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. During the same period in the previous year, the business posted $0.64 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. Analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TRMB shares. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trimble presently has a consensus rating of "Buy" and an average target price of $88.43.

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.