Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC increased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 43.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,188 shares of the scientific and technical instruments company's stock after purchasing an additional 3,665 shares during the period. Merit Financial Group LLC's holdings in Trimble were worth $800,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TRMB. Cullen Frost Bankers Inc. boosted its position in shares of Trimble by 0.6% during 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 acquiring an additional 141 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in Trimble by 0.5% in the 4th 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 buying an additional 141 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Trimble by 12.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock valued at $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp increased its stake in shares of Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock valued at $717,000 after buying an additional 156 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Trimble by 10.4% in the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock valued at $125,000 after purchasing an additional 167 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on 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 transaction, the director now owns 17,939 shares in the company, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TRMB shares. JPMorgan Chase & Co. increased their price objective on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $88.43.

Trimble Trading Down 0.2%

Shares of TRMB traded down $0.18 during trading on Thursday, reaching $72.36. 645,805 shares of the company traded hands, compared to its average volume of 1,374,795. The stock has a 50-day simple moving average of $65.65 and a 200-day simple moving average of $69.68. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock has a market cap of $17.26 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same period 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. On average, analysts anticipate that Trimble Inc. will post 2.37 earnings per share 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.