QRG Capital Management Inc. Increases Stake in Trimble Inc. (NASDAQ:TRMB)

QRG Capital Management Inc. lifted its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 96.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,714 shares of the scientific and technical instruments company's stock after buying an additional 51,816 shares during the period. QRG Capital Management Inc.'s holdings in Trimble were worth $6,940,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new position in shares of Trimble in the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Trimble during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new position in Trimble in the fourth quarter valued at approximately $36,000. Central Pacific Bank Trust Division raised its position in Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 purchasing an additional 422 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Insiders Place Their Bets

In other news, Director Kaigham Gabriel sold 6,511 shares of the firm'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 transaction, the director now owns 17,939 shares in the company, valued at $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Trimble Trading Down 0.1%

NASDAQ TRMB traded down $0.06 during trading hours on Thursday, reaching $71.70. The company's stock had a trading volume of 1,129,237 shares, compared to its average volume of 1,375,854. The firm has a fifty day simple moving average of $67.33 and a 200-day simple moving average of $69.65. 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 Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The stock has a market cap of $17.11 billion, a P/E ratio of 11.70, a P/E/G ratio of 3.06 and a beta of 1.68.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 42.40% and a return on equity of 9.87%. Trimble's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. Equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler restated an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. 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 research note on Wednesday, May 14th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Cfra raised 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $88.43.

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.