Tidal Investments LLC Buys 258,266 Shares of Trimble Inc. (NASDAQ:TRMB)

Tidal Investments LLC grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 1,178.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 280,179 shares of the scientific and technical instruments company's stock after acquiring an additional 258,266 shares during the quarter. Tidal Investments LLC owned about 0.11% of Trimble worth $19,797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Norges Bank bought a new position in shares of Trimble during the 4th quarter valued at approximately $190,391,000. Boston Partners boosted its position in shares of Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after acquiring an additional 2,312,937 shares during the last quarter. Select Equity Group L.P. boosted its position in shares of Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Trimble during the 4th quarter valued at approximately $50,041,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Trimble by 69.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after acquiring an additional 520,980 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research report on Thursday, February 20th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Oppenheimer increased their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $88.43.

Trimble Trading Down 0.3%

NASDAQ:TRMB traded down $0.24 during midday trading on Friday, hitting $70.55. 929,216 shares of the company traded hands, compared to its average volume of 1,394,463. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average is $64.46 and its 200-day moving average is $69.66. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The firm has a market capitalization of $16.83 billion, a P/E 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 issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, sell-side analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity

In other news, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company's stock, valued at approximately $729,529.98. The trade was a 17.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $466,773.59. Following the transaction, the director now owns 17,939 shares in the company, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,361 shares of company stock valued at $1,031,524. 0.54% of the stock is currently owned by company 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.