Janus Henderson Group PLC Acquires 80,950 Shares of Trimble Inc. $TRMB

Key Points

• Janus Henderson increased its Trimble stake by 302.3% in the first quarter, acquiring 80,950 additional shares and bringing its holdings to 107,732 shares valued at approximately $7.03 million.
• Trimble reported quarterly EPS of $0.79, beating estimates of $0.72, while revenue rose 11.8% year over year to $939.9 million. Institutional investors collectively own 93.21% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $83.78, despite some recent target reductions and downgrades.

Janus Henderson Group PLC boosted its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 302.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,732 shares of the scientific and technical instruments company's stock after acquiring an additional 80,950 shares during the period. Janus Henderson Group PLC's holdings in Trimble were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TRMB. Rothschild Investment LLC increased its holdings in shares of Trimble by 193.6% in the fourth quarter. Rothschild Investment LLC now owns 323 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 213 shares during the last quarter. DV Equities LLC bought a new stake in shares of Trimble during the 4th quarter worth about $26,000. Bank of Jackson Hole Trust acquired a new position in Trimble in the 4th quarter valued at about $27,000. Quarry LP raised its holdings in Trimble by 175.8% in the 3rd quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company's stock valued at $30,000 after acquiring an additional 232 shares during the period. Finally, BOKF NA raised its holdings in Trimble by 103.8% in the 4th quarter. BOKF NA now owns 426 shares of the scientific and technical instruments company's stock valued at $33,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Price Performance

Trimble stock opened at $58.58 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 1.01. Trimble Inc. has a 52 week low of $47.92 and a 52 week high of $87.50. The stock has a market capitalization of $13.66 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37. The stock has a fifty day moving average of $53.11 and a 200-day moving average of $61.16.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.07. The firm had revenue of $939.90 million during the quarter, compared to analysts' expectations of $905.60 million. Trimble had a net margin of 12.38% and a return on equity of 11.61%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, sell-side analysts expect that Trimble Inc. will post 3.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRMB has been the topic of several research reports. Barclays decreased their target price on Trimble from $103.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Oppenheimer reaffirmed an "outperform" rating and issued a $80.00 price objective on shares of Trimble in a report on Tuesday, July 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Trimble from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. Finally, Raymond James Financial downgraded shares of Trimble from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Trimble has a consensus rating of "Moderate Buy" and an average target price of $83.78.

Trimble Profile

Trimble Inc NASDAQ: TRMB is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company's offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble's product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.

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