Boston Partners Buys 267,829 Shares of Trimble Inc. (NASDAQ:TRMB)

Key Points

• Boston Partners increased its stake in Trimble Inc. by 7.9% during the first quarter, owning approximately 3.64 million shares valued at $237.88 million.
• Trimble reported $0.71 earnings per share for the last quarter, surpassing analysts' expectations of $0.63, with revenue reaching $875.70 million.
• Overall, 93.21% of Trimble's stock is owned by institutional investors, indicating strong investor confidence and support.

Boston Partners grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,644,965 shares of the scientific and technical instruments company's stock after acquiring an additional 267,829 shares during the period. Boston Partners owned about 1.53% of Trimble worth $237,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. Select Equity Group L.P. raised its stake 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Trimble by 2.5% during the fourth 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 acquiring an additional 134,277 shares during the last quarter. Contour Asset Management LLC raised its stake in shares of Trimble by 4.4% during the fourth 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 acquiring an additional 197,913 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Trimble by 9.7% during the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock valued at $252,132,000 after buying an additional 339,750 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Stock Down 1.7%

Shares of NASDAQ TRMB traded down $1.43 during midday trading on Friday, hitting $82.24. The stock had a trading volume of 2,024,643 shares, compared to its average volume of 2,065,060. The business's 50 day moving average is $79.11 and its 200-day moving average is $71.77. The company has a market cap of $19.57 billion, a P/E ratio of 70.90, a PEG ratio of 3.43 and a beta of 1.69. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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 research report on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer boosted their price target on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $90.50.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. This trade represents a 52.27% 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 Mark David Schwartz sold 1,476 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was 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 $1,747,590. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,894 shares of company stock worth $18,996,091 in the last three months. 0.54% of the stock is currently owned by company insiders.

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.