Deutsche Bank AG Buys 160,737 Shares of Trimble Inc. (NASDAQ:TRMB)

Key Points

• Deutsche Bank AG increased its stake in Trimble Inc. by 9.6% during the 1st quarter, owning approximately 1.83 million shares valued at about $120.20 million.
• The company reported a net profit margin of 8.02% and exceeded analysts' earnings projections, with $0.71 earnings per share for the last quarter.
• Wall Street analysts are optimistic, with the consensus target price for Trimble set at $90.50 and several firms upgrading their ratings on the stock.

Deutsche Bank AG grew its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,830,853 shares of the scientific and technical instruments company's stock after acquiring an additional 160,737 shares during the period. Deutsche Bank AG owned 0.77% of Trimble worth $120,195,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Trimble by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,113,260 shares of the scientific and technical instruments company's stock valued at $138,736,000 after acquiring an additional 32,632 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in Trimble during the 1st quarter worth $2,048,000. Vanguard Group Inc. raised its position in Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock worth $1,988,450,000 after purchasing an additional 582,124 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Trimble by 78.4% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,267 shares of the scientific and technical instruments company's stock worth $871,000 after purchasing an additional 5,831 shares during the last quarter. Finally, Earned Wealth Advisors LLC raised its position in Trimble by 68.5% during the 1st quarter. Earned Wealth Advisors LLC now owns 5,485 shares of the scientific and technical instruments company's stock worth $360,000 after purchasing an additional 2,230 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on TRMB shares. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a report on Saturday. 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 Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Oppenheimer increased their price target on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $90.50.

Trimble Stock Performance

Trimble stock traded up $1.02 during mid-day trading on Tuesday, reaching $83.61. The company's stock had a trading volume of 1,554,608 shares, compared to its average volume of 1,580,664. Trimble Inc. has a 12-month low of $52.22 and a 12-month high of $87.50. The company has a market capitalization of $19.90 billion, a P/E ratio of 72.08, a PEG ratio of 3.55 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The firm's fifty day moving average price is $78.16 and its two-hundred day moving average price is $71.50.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. During the same period in the previous year, the business earned $0.62 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director directly owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,894 shares of company stock valued at $18,996,091. Company insiders own 0.54% of the company's stock.

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.