Simon Quick Advisors LLC Purchases 3,514 Shares of Trimble Inc. (NASDAQ:TRMB)

Simon Quick Advisors LLC raised its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,148 shares of the scientific and technical instruments company's stock after buying an additional 3,514 shares during the period. Simon Quick Advisors LLC's holdings in Trimble were worth $1,126,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in Trimble by 0.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock worth $1,623,000 after acquiring an additional 141 shares during the last quarter. Essex Investment Management Co. LLC raised its position 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 worth $2,017,000 after purchasing an additional 141 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Trimble by 12.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock worth $93,000 after purchasing an additional 149 shares in the last quarter. M&T Bank Corp raised its position 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 worth $717,000 after purchasing an additional 156 shares in the last quarter. Finally, Huntington National Bank raised its position 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 worth $125,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TRMB. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. raised 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. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target for the company in a report on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trimble presently has a consensus rating of "Buy" and a consensus target price of $88.43.

Insiders Place Their Bets

In other news, Director Kaigham Gabriel sold 6,511 shares of Trimble 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 transaction, the director now directly owns 17,939 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company's stock.

Trimble Trading Down 1.8%

TRMB traded down $1.28 during trading on Friday, reaching $71.08. 753,171 shares of the company's stock were exchanged, compared to its average volume of 1,376,577. The company's fifty day moving average price is $66.30 and its 200-day moving average price is $69.65. 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 Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The firm has a market capitalization of $16.96 billion, a PE ratio of 11.67, a P/E/G ratio of 3.09 and a beta of 1.68.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the previous year, the business earned $0.64 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

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.