Hudson Valley Investment Advisors Inc. ADV Purchases Shares of 42,130 Trimble Inc. (NASDAQ:TRMB)

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

Other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Trimble by 5.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock valued at $26,560,000 after acquiring an additional 17,785 shares during the last quarter. Wellington Management Group LLP lifted 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 last quarter. Atria Investments Inc lifted its stake in Trimble by 15.4% in 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 acquiring an additional 537 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Trimble by 34.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 38,534 shares of the scientific and technical instruments company's stock valued at $2,686,000 after acquiring an additional 9,813 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Trimble by 17.9% in the fourth quarter. HighTower Advisors LLC now owns 47,216 shares of the scientific and technical instruments company's stock valued at $3,336,000 after acquiring an additional 7,152 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TRMB. 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. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Oppenheimer raised their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. One research 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 data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $88.43.

Trimble Price Performance

Shares of Trimble stock opened at $72.22 on Friday. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. 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 has a 50-day simple moving average of $64.96 and a two-hundred day simple moving average of $69.66. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68.

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

Insider Buying and Selling at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction that occurred 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 sale, the director now directly owns 17,939 shares of the company's stock, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

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.

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