Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,466 shares of the scientific and technical instruments company's stock after acquiring an additional 5,605 shares during the quarter. Penserra Capital Management LLC's holdings in Trimble were worth $2,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its holdings in Trimble by 0.5% in the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock valued at $2,017,000 after acquiring an additional 141 shares during the last quarter. M&T Bank Corp boosted its holdings in Trimble by 1.6% in 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 acquiring an additional 156 shares during the last quarter. Huntington National Bank boosted its holdings in Trimble by 10.4% in the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock valued at $125,000 after acquiring an additional 167 shares during the last quarter. Inspire Advisors LLC boosted its holdings in Trimble by 1.8% in the fourth quarter. Inspire Advisors LLC now owns 9,675 shares of the scientific and technical instruments company's stock valued at $684,000 after acquiring an additional 175 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Trimble by 8.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,610 shares of the scientific and technical instruments company's stock valued at $184,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler reissued an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $88.43.

Trimble Stock Up 0.9%

Trimble stock traded up $0.69 during midday trading on Tuesday, hitting $79.32. The stock had a trading volume of 2,027,880 shares, compared to its average volume of 1,395,894. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The stock has a market cap of $18.92 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.36 and a beta of 1.67. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $79.57. The business has a fifty day moving average price of $71.32 and a 200 day moving average price of $69.77.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The business's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. Research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director directly owned 17,939 shares in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company's stock.

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.