Ethic Inc. Has $1.38 Million Position in Trimble Inc. $TRMB

Key Points

• Ethic Inc. increased its stake in Trimble Inc. by 33.6% in Q1, acquiring additional shares worth approximately $1.38 million.
• Despite mixed investor activities, institutional ownership stands at a significant 93.21% of Trimble's stock.
• Trimble's recent earnings report showed an EPS of $0.71, exceeding estimates, while analysts project a consensus target price of $90.50 for the stock.

Ethic Inc. raised its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,176 shares of the scientific and technical instruments company's stock after acquiring an additional 5,320 shares during the quarter. Ethic Inc.'s holdings in Trimble were worth $1,384,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its stake in Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock valued at $268,000 after acquiring an additional 943 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock valued at $522,000 after acquiring an additional 452 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after purchasing an additional 2,397 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after purchasing an additional 4,185 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock valued at $346,000 after purchasing an additional 1,059 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Price Performance

NASDAQ:TRMB opened at $82.80 on Tuesday. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 71.38, a P/E/G ratio of 3.38 and a beta of 1.69. The firm's 50-day simple moving average is $79.32 and its 200 day simple moving average is $71.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $835.81 million. During the same period last year, the firm earned $0.62 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Activity

In other Trimble news, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares of the company's stock, valued at $9,515,427.57. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kaigham Gabriel sold 6,511 shares of the firm's 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 directly owned 17,939 shares in the company, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,894 shares of company stock valued at $18,996,091 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRMB. Raymond James Financial reissued an "outperform" rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective 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. Oppenheimer increased their price objective 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. Piper Sandler reissued an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $90.50.

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.

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