5,168 Shares in Trimble Inc. (NASDAQ:TRMB) Acquired by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC has made a new investment in Trimble Inc., acquiring 5,168 shares valued at approximately $339,000 during the first quarter.
• Trimble's recent quarterly earnings report showed an earnings per share (EPS) of $0.61, which beat analysts' expectations by one cent, despite a revenue decrease of 11.8% year-over-year.
• Institutional investors currently own 93.21% of Trimble's stock, indicating significant interest from hedge funds and other large investment firms in the company.

Blueshift Asset Management LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,168 shares of the scientific and technical instruments company's stock, valued at approximately $339,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its holdings in Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Trimble during the fourth quarter worth $51,000. Quarry LP boosted its holdings in Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after buying an additional 402 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares in the last quarter. Finally, Friedenthal Financial boosted its holdings in Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after buying an additional 453 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRMB has been the topic of several recent analyst reports. Oppenheimer increased their price objective on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler reiterated 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus price target of $89.14.

Insider Activity at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director directly owned 17,939 shares in the company, 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 at this hyperlink. Also, VP Mark David Schwartz sold 1,476 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at approximately $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,047 shares of company stock valued at $1,538,152. Company insiders own 0.54% of the company's stock.

Trimble Stock Down 1.3%

Trimble stock traded down $1.12 during trading on Tuesday, reaching $83.13. The stock had a trading volume of 140,648 shares, compared to its average volume of 1,544,248. Trimble Inc. has a 52-week low of $49.84 and a 52-week high of $86.42. The business has a 50 day moving average price of $76.99 and a 200 day moving average price of $71.28. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The stock has a market cap of $19.83 billion, a PE ratio of 13.56, a P/E/G ratio of 3.52 and a beta of 1.69.

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 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 company had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. During the same quarter last year, the company earned $0.64 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

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.