BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 15,551 Shares of Trimble Inc. $TRMB

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Trimble Inc. by 5.4% during the first quarter, owning approximately 305,673 shares valued at $20.07 million.
• Trimble reported better-than-expected quarterly earnings, with $0.71 earnings per share, surpassing estimates of $0.63, and recorded revenue of $875.70 million.
• Analysts have set new price targets for Trimble, with Oppenheimer raising their target from $88 to $94, while Raymond James set a target of $93, indicating strong market confidence in the stock.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 305,673 shares of the scientific and technical instruments company's stock after purchasing an additional 15,551 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.13% of Trimble worth $20,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division increased its stake in shares of 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 valued at $37,000 after purchasing an additional 355 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of Trimble during the fourth quarter valued at approximately $51,000. Quarry LP grew its holdings in shares of Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 402 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 valued at $64,000 after buying an additional 591 shares during the last quarter. Finally, Friedenthal Financial grew its holdings in shares of Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after buying an additional 453 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

TRMB stock traded down $0.92 on Wednesday, hitting $80.20. The company had a trading volume of 1,449,331 shares, compared to its average volume of 2,072,449. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The stock's 50-day simple moving average is $79.64 and its 200 day simple moving average is $71.90. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 69.14, a P/E/G ratio of 3.33 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. During the same quarter last year, the company posted $0.62 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the 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 $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares in the company, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,383 shares of company stock worth $18,529,318. Company insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Oppenheimer increased their price target on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler reiterated an "overweight" rating and set 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 $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $90.50.

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.