Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 10.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,182 shares of the scientific and technical instruments company's stock after purchasing an additional 5,130 shares during the period. Handelsbanken Fonder AB's holdings in Trimble were worth $3,557,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Trimble by 53.0% in the first quarter. SG Americas Securities LLC now owns 70,764 shares of the scientific and technical instruments company's stock worth $4,646,000 after buying an additional 24,528 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $346,000 after buying an additional 1,059 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Trimble by 32.5% in the first quarter. Pallas Capital Advisors LLC now owns 9,569 shares of the scientific and technical instruments company's stock worth $628,000 after buying an additional 2,346 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 buying an additional 591 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of Trimble in the first quarter worth $2,766,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on TRMB. Piper Sandler reiterated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Oppenheimer boosted their target price on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $88.43.

Insider Transactions at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction dated 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 now owns 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.54% of the company's stock.

Trimble Stock Performance

Shares of Trimble stock traded down $1.12 during trading on Tuesday, hitting $71.76. 916,424 shares of the stock were exchanged, compared to its average volume of 1,375,932. The stock's fifty day moving average is $66.86 and its 200 day moving average is $69.64. The stock has a market cap of $17.12 billion, a PE ratio of 11.71, a P/E/G ratio of 3.11 and a beta of 1.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. 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 results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

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.