Congress Asset Management Co. Raises Holdings in Trimble Inc. (NASDAQ:TRMB)

Congress Asset Management Co. increased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,636 shares of the scientific and technical instruments company's stock after purchasing an additional 3,747 shares during the quarter. Congress Asset Management Co. owned approximately 0.06% of Trimble worth $10,086,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its holdings in Trimble by 0.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock valued at $1,623,000 after buying an additional 141 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of Trimble by 0.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock worth $2,017,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of Trimble by 12.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock worth $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp grew its holdings in shares of Trimble by 1.6% during the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock worth $717,000 after purchasing an additional 156 shares during the period. Finally, Huntington National Bank grew its holdings in shares of Trimble by 10.4% during the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock worth $125,000 after purchasing an additional 167 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Price Performance

TRMB stock opened at $72.22 on Friday. 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 market capitalization of $17.23 billion, a P/E ratio of 11.86, a P/E/G ratio of 3.09 and a beta of 1.68. The business's 50-day moving average is $64.96 and its two-hundred day moving average is $69.65. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director now owns 17,939 shares of the company's stock, valued at $1,286,046.91. This trade 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 this link. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of research analyst reports. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Oppenheimer increased their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target 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.

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