New England Research & Management Inc. Purchases Shares of 15,640 Trimble Inc. (NASDAQ:TRMB)

New England Research & Management Inc. acquired a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,640 shares of the scientific and technical instruments company's stock, valued at approximately $1,027,000.

Other hedge funds have also bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Trimble during the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Trimble during the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble during the 4th quarter valued at approximately $36,000. Central Pacific Bank Trust Division lifted its position in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 355 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director now directly owns 17,939 shares in the company, valued at $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 is available at the SEC website. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

TRMB has been the topic of a number of recent analyst reports. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Oppenheimer increased their target price on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Piper Sandler reiterated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $88.43.

Trimble Price Performance

TRMB stock traded down $1.28 during midday trading on Friday, reaching $71.08. The stock had a trading volume of 753,171 shares, compared to its average volume of 1,376,577. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68. The company's fifty day simple moving average is $66.30 and its 200 day simple moving average is $69.65. 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 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 40.84% and a return on equity of 10.56%. The firm had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the company posted $0.64 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal 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.