Texas Bank & Trust Co Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

Texas Bank & Trust Co acquired a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,800 shares of the scientific and technical instruments company's stock, valued at approximately $480,000.

A number of other hedge funds have also made changes to their positions in TRMB. Crowley Wealth Management Inc. acquired a new position in Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Trimble during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Trimble in the 4th quarter valued at $36,000. Larson Financial Group LLC grew its position in shares of Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

TRMB traded up $0.03 on Thursday, hitting $70.79. 864,651 shares of the company traded hands, compared to its average volume of 1,394,533. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a 50 day moving average of $64.44 and a 200-day moving average of $69.55. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $16.89 billion, a PE ratio of 11.62, a PEG ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company's quarterly revenue was down 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Buying and Selling at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares of the company's stock, valued at $729,529.98. The trade was a 17.40% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $88.43.

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.