Sheaff Brock Investment Advisors LLC Makes New $695,000 Investment in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Sheaff Brock Investment Advisors LLC invested approximately $695,000 in Trimble Inc. by acquiring 10,580 shares during the first quarter.
• Analysts have recently upgraded their ratings for Trimble, with Oppenheimer raising its target price from $81.00 to $88.00, while JPMorgan Chase increased its price objective from $88.00 to $95.00.
• Trimble reported **earnings per share** of $0.61 for the last quarter, surpassing estimates, while revenue of $840.60 million also exceeded expectations but showed an 11.8% decline compared to the previous year.

Sheaff Brock Investment Advisors LLC bought a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,580 shares of the scientific and technical instruments company's stock, valued at approximately $695,000.

A number of other institutional investors have also added to or reduced their stakes in TRMB. Central Pacific Bank Trust Division increased its stake in Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares during the last quarter. Putney Financial Group LLC bought a new position in Trimble in the 4th quarter worth about $51,000. Quarry LP increased its stake in Trimble by 121.8% in the 4th 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 last quarter. Farther Finance Advisors LLC increased its stake in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after acquiring an additional 591 shares during the last quarter. Finally, Friedenthal Financial increased its stake in Trimble by 64.7% in the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after acquiring an additional 453 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of research analyst reports. Oppenheimer upped their target price on Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $89.14.

Trimble Trading Down 0.2%

Shares of TRMB stock opened at $85.07 on Tuesday. The stock has a market capitalization of $20.30 billion, a PE ratio of 13.88, a P/E/G ratio of 3.63 and a beta of 1.67. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $86.42. The business has a 50-day moving average of $75.67 and a 200 day moving average of $70.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its 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. The company had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. Trimble's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director owned 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. Over the last quarter, insiders have sold 20,047 shares of company stock valued at $1,538,152. 0.54% of the stock is owned by insiders.

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.

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