Trimble Inc. (NASDAQ:TRMB) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 59.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,798 shares of the scientific and technical instruments company's stock after purchasing an additional 10,033 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Trimble were worth $1,759,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. increased its stake in Trimble by 0.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock valued at $1,623,000 after buying an additional 141 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock worth $2,017,000 after acquiring an additional 141 shares during the period. SRS Capital Advisors Inc. increased its position in Trimble by 12.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock worth $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp increased its position in Trimble by 1.6% during the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock worth $717,000 after purchasing an additional 156 shares during the period. Finally, Huntington National Bank increased its position in Trimble by 10.4% during the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock worth $125,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Insiders Place Their Bets

In related news, Director Kaigham Gabriel sold 6,511 shares of the firm's 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 owns 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Trimble Price Performance

Shares of TRMB stock traded down $0.66 during trading hours on Friday, hitting $71.00. The company's stock had a trading volume of 2,798,392 shares, compared to its average volume of 1,400,013. The business has a fifty day moving average of $64.48 and a 200-day moving average of $69.61. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 3.09 and a beta of 1.67. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. upped their price objective on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Oppenheimer upped their price target 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. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Finally, Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $88.43.

Trimble Company 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.