9,555 Shares in Trimble Inc. (NASDAQ:TRMB) Bought by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. has acquired 9,555 shares of Trimble Inc., valued at approximately $627,000, indicating growing institutional interest in the firm.
• Company CEO Robert G. Painter sold 7,500 shares for about $591,450, representing a 6.13% decrease in his holdings.
• Analysts are optimistic about Trimble, with JPMorgan raising its target price from $88.00 to $95.00 and there being a consensus rating of "Buy" according to MarketBeat.com.

Machina Capital S.A.S. bought a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 9,555 shares of the scientific and technical instruments company's stock, valued at approximately $627,000.

Several other hedge funds have also modified their holdings of the company. AE Wealth Management LLC purchased a new stake in shares of Trimble during the first quarter valued at about $769,000. Wakefield Asset Management LLLP purchased a new stake in shares of Trimble during the first quarter valued at about $219,000. Venturi Wealth Management LLC lifted its position in shares of Trimble by 128.9% during the first quarter. Venturi Wealth Management LLC now owns 3,223 shares of the scientific and technical instruments company's stock valued at $212,000 after buying an additional 1,815 shares during the last quarter. Oak Thistle LLC lifted its position in shares of Trimble by 301.6% during the first quarter. Oak Thistle LLC now owns 23,051 shares of the scientific and technical instruments company's stock valued at $1,513,000 after buying an additional 17,311 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Trimble by 1.1% during the first quarter. KLP Kapitalforvaltning AS now owns 146,876 shares of the scientific and technical instruments company's stock valued at $9,642,000 after buying an additional 1,600 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Performance

TRMB traded up $0.85 during trading on Monday, reaching $86.09. 1,016,488 shares of the company's stock were exchanged, compared to its average volume of 1,521,873. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $86.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The stock has a market capitalization of $20.54 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 3.63 and a beta of 1.67. The company's fifty day simple moving average is $75.41 and its 200-day simple moving average is $70.77.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same period last year, the firm posted $0.64 EPS. Trimble's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on TRMB shares. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer increased their price objective on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One equities 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 company's stock. According to data from MarketBeat.com, Trimble has an average rating of "Buy" and an average target price of $89.14.

Insider Activity

In other news, VP Mark David Schwartz sold 1,476 shares of Trimble stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the transaction, the vice president directly owned 22,405 shares of the company's stock, valued at $1,747,590. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director directly owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,047 shares of company stock valued at $1,538,152 in the last quarter. Company 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.