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Invesco Ltd. Purchases 339,750 Shares of Trimble Inc. (NASDAQ:TRMB)

Trimble logo with Industrials background

Key Points

  • Invesco Ltd. increased its holdings in Trimble Inc. by 9.7%, acquiring an additional 339,750 shares, bringing its total ownership to 3,840,550 shares valued at approximately $252 million.
  • Institutional investors now hold 93.21% of Trimble's stock, reflecting significant interest from large investors such as Envestnet Asset Management and Barclays PLC.
  • Wall Street analysts are optimistic about Trimble, with eight out of nine giving it a "buy" rating and a consensus price target of $90.50.
  • Looking to export and analyze Trimble data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Invesco Ltd. boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,840,550 shares of the scientific and technical instruments company's stock after acquiring an additional 339,750 shares during the period. Invesco Ltd. owned approximately 1.61% of Trimble worth $252,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its holdings in shares of Trimble by 8.4% in the first quarter. Frank Rimerman Advisors LLC now owns 8,137 shares of the scientific and technical instruments company's stock valued at $534,000 after purchasing an additional 631 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Trimble by 800.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 134,726 shares of the scientific and technical instruments company's stock valued at $8,845,000 after purchasing an additional 119,765 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Trimble by 35.0% in the first quarter. Townsquare Capital LLC now owns 4,878 shares of the scientific and technical instruments company's stock valued at $320,000 after purchasing an additional 1,264 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of Trimble by 155.8% in the first quarter. Forsta AP Fonden now owns 129,700 shares of the scientific and technical instruments company's stock valued at $8,515,000 after purchasing an additional 79,000 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Trimble by 60.2% in the first quarter. National Bank of Canada FI now owns 189,488 shares of the scientific and technical instruments company's stock valued at $12,440,000 after purchasing an additional 71,188 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the transaction, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. This represents a 6.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares of the company's stock, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,894 shares of company stock valued at $18,996,091 over the last ninety days. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRMB. Piper Sandler restated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Oppenheimer boosted their price target on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $90.50.

View Our Latest Report on Trimble

Trimble Price Performance

NASDAQ TRMB traded down $1.43 on Friday, hitting $82.24. 2,024,643 shares of the company's stock were exchanged, compared to its average volume of 1,581,870. The stock has a 50-day moving average of $78.91 and a 200-day moving average of $71.73. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 70.90, a P/E/G ratio of 3.47 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The firm had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. During the same period in the prior year, the company earned $0.62 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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