Main Street Research LLC Purchases Shares of 7,000 Trimble Inc. (NASDAQ:TRMB)

Main Street Research LLC acquired a new stake 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 acquired 7,000 shares of the scientific and technical instruments company's stock, valued at approximately $460,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Trimble in the 4th quarter worth approximately $190,391,000. Boston Partners raised its stake in Trimble by 217.3% during the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after buying an additional 2,312,937 shares during the last quarter. Select Equity Group L.P. boosted its stake in Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after purchasing an additional 1,857,517 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Trimble by 338.8% in the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock worth $53,564,000 after buying an additional 629,960 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Trimble by 69.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after purchasing an additional 520,980 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Insider Activity

In related news, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director directly owned 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark David Schwartz sold 1,476 shares of the business's stock in a transaction dated 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 sale, the vice president owned 22,405 shares of the company's stock, valued at approximately $1,747,590. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One 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, the company presently has an average rating of "Buy" and a consensus price target of $88.43.

Trimble Trading Up 0.4%

TRMB traded up $0.30 on Wednesday, reaching $79.62. 1,319,485 shares of the company traded hands, compared to its average volume of 1,400,770. The company has a market cap of $19.00 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 3.38 and a beta of 1.67. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Trimble Inc. has a one year low of $48.65 and a one year high of $79.77. The firm has a fifty day simple moving average of $72.01 and a two-hundred day simple moving average of $69.91.

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 for the quarter, beating the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The firm had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current 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.