42,130 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV bought a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 42,130 shares of the scientific and technical instruments company's stock, valued at approximately $2,766,000.

A number of other institutional investors have also recently modified their holdings of TRMB. Congress Asset Management Co. grew its position in Trimble by 2.5% during the 1st quarter. Congress Asset Management Co. now owns 153,636 shares of the scientific and technical instruments company's stock valued at $10,086,000 after purchasing an additional 3,747 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Trimble during the first quarter valued at approximately $105,000. Lmcg Investments LLC increased its position in shares of Trimble by 64.1% during the first quarter. Lmcg Investments LLC now owns 76,252 shares of the scientific and technical instruments company's stock valued at $5,006,000 after acquiring an additional 29,794 shares in the last quarter. Merit Financial Group LLC raised its holdings in Trimble by 43.0% in the 1st quarter. Merit Financial Group LLC now owns 12,188 shares of the scientific and technical instruments company's stock worth $800,000 after acquiring an additional 3,665 shares during the last quarter. Finally, Czech National Bank boosted its stake in Trimble by 6.6% during the 1st quarter. Czech National Bank now owns 56,454 shares of the scientific and technical instruments company's stock valued at $3,706,000 after purchasing an additional 3,504 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price 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 upgraded shares of 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 investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trimble presently has an average rating of "Buy" and an average price target of $88.43.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the transaction, the director now owns 17,939 shares in the company, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company's stock.

Trimble Price Performance

TRMB traded up $0.44 during trading on Tuesday, hitting $72.80. 943,601 shares of the company traded hands, compared to its average volume of 1,393,413. The company has a market cap of $17.37 billion, a PE ratio of 11.95, a P/E/G ratio of 3.09 and a beta of 1.68. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock's 50-day simple moving average is $65.33 and its two-hundred day simple moving average is $69.66.

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 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal 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.