Maverick Capital Ltd. Buys 5,887 Shares of Trimble Inc. $TRMB

Key Points

• Maverick Capital Ltd. increased its holdings in Trimble Inc. by 102.6%, acquiring an additional 5,887 shares during the first quarter, bringing its total shares to 11,624, worth approximately $763,000.
• Several other institutional investors also increased their stakes in Trimble, with 93.21% of the stock currently owned by institutional investors.
• Analysts have responded positively to Trimble's performance, with multiple firms issuing buy ratings and price targets ranging from $84.00 to $96.00, indicating strong market confidence in the company's future.

Maverick Capital Ltd. boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 102.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,624 shares of the scientific and technical instruments company's stock after acquiring an additional 5,887 shares during the period. Maverick Capital Ltd.'s holdings in Trimble were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Trimble in the 4th quarter valued at about $211,000. Integrated Wealth Concepts LLC bought a new stake in shares of Trimble in the 4th quarter valued at about $218,000. Comerica Bank boosted its holdings in shares of Trimble by 4.6% in the 4th quarter. Comerica Bank now owns 39,350 shares of the scientific and technical instruments company's stock valued at $2,780,000 after buying an additional 1,744 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Trimble by 173.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 53,396 shares of the scientific and technical instruments company's stock valued at $3,773,000 after buying an additional 33,857 shares in the last quarter. Finally, Aptus Capital Advisors LLC bought a new stake in shares of Trimble in the 4th quarter valued at about $222,000. 93.21% of the stock is currently owned by institutional investors.

Insider Activity at Trimble

In related news, 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 transaction of $252,480.00. Following the sale, the vice president directly owned 2,882 shares of the company's stock, valued at approximately $230,560. This represents a 52.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total transaction of $115,128.00. Following the sale, the vice president directly owned 22,405 shares in the company, valued at $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,383 shares of company stock worth $18,529,318 in the last three months. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TRMB shares. Raymond James Financial restated an "outperform" rating and issued a $93.00 price target (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer increased their price objective on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $90.50.

Trimble Stock Performance

TRMB opened at $80.82 on Tuesday. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $19.23 billion, a PE ratio of 69.67, a P/E/G ratio of 3.32 and a beta of 1.66. The firm has a 50 day moving average of $81.15 and a two-hundred day moving average of $72.27.

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

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.

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