ProShare Advisors LLC Has $3.74 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

ProShare Advisors LLC raised its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,953 shares of the scientific and technical instruments company's stock after acquiring an additional 5,977 shares during the quarter. ProShare Advisors LLC's holdings in Trimble were worth $3,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in Trimble during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in Trimble during the fourth quarter worth $35,000. SBI Securities Co. Ltd. bought a new position in Trimble during the fourth quarter worth $36,000. Larson Financial Group LLC increased its position in Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after acquiring an additional 422 shares during the period. Finally, Quarry LP increased its position in Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after acquiring an additional 402 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,361 shares of company stock valued at $1,031,524. 0.54% of the stock is currently owned by insiders.

Trimble Price Performance

Shares of TRMB traded down $0.24 during trading hours on Friday, hitting $70.55. The stock had a trading volume of 929,216 shares, compared to its average volume of 1,394,463. The company's fifty day moving average is $64.46 and its two-hundred day moving average is $69.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping 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 business had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Analysts Set New Price Targets

TRMB has been the topic of several analyst reports. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Oppenheimer boosted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Cfra raised shares of 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 given 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.

About Trimble

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.