Exchange Traded Concepts LLC Purchases 12,039 Shares of Trimble Inc. (NASDAQ:TRMB)

Exchange Traded Concepts LLC raised its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,981 shares of the scientific and technical instruments company's stock after acquiring an additional 12,039 shares during the period. Exchange Traded Concepts LLC owned about 0.08% of Trimble worth $12,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Trimble by 5.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock worth $26,560,000 after buying an additional 17,785 shares in the last quarter. Wellington Management Group LLP increased its stake in Trimble by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after acquiring an additional 5,472 shares during the period. Atria Investments Inc boosted its holdings in Trimble by 15.4% during the fourth quarter. Atria Investments Inc now owns 4,022 shares of the scientific and technical instruments company's stock valued at $284,000 after purchasing an additional 537 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Trimble by 34.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 38,534 shares of the scientific and technical instruments company's stock worth $2,686,000 after buying an additional 9,813 shares during the period. Finally, HighTower Advisors LLC raised its stake in Trimble by 17.9% during the fourth quarter. HighTower Advisors LLC now owns 47,216 shares of the scientific and technical instruments company's stock worth $3,336,000 after acquiring an additional 7,152 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Trimble Trading Up 2.7%

NASDAQ:TRMB traded up $1.91 during trading hours on Monday, hitting $72.99. 492,323 shares of the stock were exchanged, compared to its average volume of 1,373,163. The company has a market capitalization of $17.41 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company's 50 day moving average is $66.30 and its two-hundred day moving average is $69.63. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. On average, sell-side 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 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 completion of the sale, the director now owns 17,939 shares of the company's stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRMB. Oppenheimer increased their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Trimble presently has a consensus rating of "Buy" and a consensus target price 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.