Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires Shares of 5,181 Trimble Inc. (NASDAQ:TRMB)

Key Points

• Empirical Wealth Management acquired a new position in Trimble Inc., purchasing 5,181 shares valued at approximately $340,000 during the first quarter.
• JPMorgan Chase & Co. raised their target price on Trimble from $88.00 to $95.00, while the company's consensus rating is currently a "Buy" with an average target price of $89.14.
• Insider transactions included sales by vice presidents totaling 20,047 shares worth $1,538,152 in the last quarter, indicating a decrease in insider ownership to 0.54% of the company's stock.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,181 shares of the scientific and technical instruments company's stock, valued at approximately $340,000.

Several other hedge funds also recently modified their holdings of TRMB. Central Pacific Bank Trust Division lifted its stake in shares of Trimble by 174.9% in 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 buying an additional 355 shares during the period. Putney Financial Group LLC bought a new stake in Trimble in the fourth quarter valued at about $51,000. Quarry LP increased its stake in Trimble by 121.8% in the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after acquiring an additional 402 shares during the period. Farther Finance Advisors LLC raised its position in Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after purchasing an additional 591 shares in the last quarter. Finally, Friedenthal Financial grew its stake in shares of Trimble by 64.7% in the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after purchasing an additional 453 shares during the period. 93.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Oppenheimer increased their price target on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $89.14.

Trimble Stock Performance

Shares of Trimble stock traded up $1.43 during trading on Wednesday, hitting $84.13. 3,352,313 shares of the stock were exchanged, compared to its average volume of 1,570,279. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $77.20 and a 200-day moving average price of $71.35. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 3.59 and a beta of 1.69. Trimble Inc. has a 1-year low of $50.52 and a 1-year high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last announced 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 42.40% and a return on equity of 9.87%. The business had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same quarter in the prior year, the business earned $0.62 EPS. Trimble's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction 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 sale, the vice president owned 2,882 shares of the company's stock, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Mark David Schwartz sold 1,476 shares of the business's stock in a transaction 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 sale, the vice president directly owned 22,405 shares in the company, valued at approximately $1,747,590. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,047 shares of company stock worth $1,538,152 over the last ninety days. 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.