Cerity Partners LLC Buys 19,724 Shares of Trimble Inc. (NASDAQ:TRMB)

Cerity Partners LLC lifted its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 29.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,492 shares of the scientific and technical instruments company's stock after purchasing an additional 19,724 shares during the quarter. Cerity Partners LLC's holdings in Trimble were worth $5,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Arcus Capital Partners LLC bought a new position in Trimble in the 1st quarter valued at approximately $282,000. Alps Advisors Inc. bought a new position in Trimble in the 1st quarter valued at approximately $335,000. Capital Insight Partners LLC lifted its position in Trimble by 4.0% in the 1st quarter. Capital Insight Partners LLC now owns 8,135 shares of the scientific and technical instruments company's stock valued at $534,000 after acquiring an additional 315 shares in the last quarter. Sharpepoint LLC lifted its position in Trimble by 3.3% in the 1st quarter. Sharpepoint LLC now owns 13,795 shares of the scientific and technical instruments company's stock valued at $855,000 after acquiring an additional 445 shares in the last quarter. Finally, Main Street Research LLC bought a new position in Trimble in the 1st quarter valued at approximately $460,000. 93.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The shares were 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. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the transaction, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,047 shares of company stock worth $1,538,152. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TRMB shares. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler reissued an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, Oppenheimer increased their price target on Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $89.14.

Trimble Price Performance

TRMB stock traded up $1.35 during trading on Thursday, reaching $82.02. The company's stock had a trading volume of 1,517,393 shares, compared to its average volume of 1,412,637. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $82.14. 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 company has a market capitalization of $19.57 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 3.44 and a beta of 1.67. The company's fifty day moving average is $73.62 and its 200-day moving average is $70.20.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the prior year, the business posted $0.64 EPS. Trimble's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, research analysts expect that Trimble Inc. will post 2.37 earnings per share 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.