Royal Bank of Canada Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

Royal Bank of Canada raised its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 67.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,735 shares of the scientific and technical instruments company's stock after buying an additional 138,689 shares during the period. Royal Bank of Canada owned about 0.14% of Trimble worth $24,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Trimble by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company's stock worth $2,099,064,000 after purchasing an additional 183,150 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Trimble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock worth $425,427,000 after purchasing an additional 138,136 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Trimble by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company's stock worth $400,312,000 after purchasing an additional 222,679 shares in the last quarter. Contour Asset Management LLC increased its position in shares of Trimble by 4.4% during the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock worth $330,772,000 after purchasing an additional 197,913 shares in the last quarter. Finally, Boston Partners increased its position in shares of Trimble by 217.3% during the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock worth $239,802,000 after purchasing an additional 2,312,937 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TRMB shares. JPMorgan Chase & Co. lifted their target price on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research 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. Cfra raised 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. Piper Sandler reissued an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. One 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $88.43.

Trimble Stock Performance

TRMB traded up $0.01 during trading on Thursday, reaching $71.52. The company's stock had a trading volume of 522,428 shares, compared to its average volume of 1,391,932. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company's fifty day moving average price is $64.48 and its 200-day moving average price is $69.65. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

Trimble (NASDAQ:TRMB - Get Free Report) last announced 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 company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the company'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 value of $466,773.59. Following the sale, the director now owns 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

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.