Trimble Inc. (NASDAQ:TRMB) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 8,114.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,304 shares of the scientific and technical instruments company's stock after buying an additional 342,088 shares during the period. GAMMA Investing LLC owned 0.14% of Trimble worth $22,735,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TRMB. Janney Montgomery Scott LLC purchased a new stake in shares of Trimble during the fourth quarter worth approximately $596,000. Brighton Jones LLC acquired a new stake in Trimble during the 4th quarter worth $211,000. Blue Trust Inc. grew its holdings in shares of Trimble by 93.7% during the fourth quarter. Blue Trust Inc. now owns 2,400 shares of the scientific and technical instruments company's stock worth $170,000 after buying an additional 1,161 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Trimble in the fourth quarter valued at about $293,000. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Trimble by 8.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,094 shares of the scientific and technical instruments company's stock worth $572,000 after buying an additional 622 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Trading Up 1.5%

Shares of Trimble stock traded up $1.06 during mid-day trading on Friday, hitting $72.22. The stock had a trading volume of 914,300 shares, compared to its average volume of 1,397,690. The firm has a 50-day moving average of $64.96 and a two-hundred day moving average of $69.64. The firm has a market cap of $17.23 billion, a P/E ratio of 11.86, 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. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRMB. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $88.43.

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 that occurred on 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. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

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.