QRG Capital Management Inc. Acquires 51,816 Shares of Trimble Inc. (NASDAQ:TRMB)

QRG Capital Management Inc. raised its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 96.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 105,714 shares of the scientific and technical instruments company's stock after purchasing 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 SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of Trimble during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of Trimble in the 4th quarter worth $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Trimble in the 4th quarter worth $36,000. Central Pacific Bank Trust Division grew its stake in shares of 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 in the last quarter. Finally, Larson Financial Group LLC grew its position in Trimble by 164.8% during the fourth 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 period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Price Performance

Shares of Trimble stock traded up $0.11 on Friday, reaching $71.81. The stock had a trading volume of 3,786,586 shares, compared to its average volume of 1,378,133. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a market cap of $17.13 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 3.06 and a beta of 1.68. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The business's 50 day moving average is $67.61 and its two-hundred day moving average is $69.59.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million for 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%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on TRMB shares. Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. One equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $88.43.

Insider Buying and Selling

In related news, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction that occurred 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 directly owns 17,939 shares in the company, valued at approximately $1,286,046.91. This 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 accessible through the SEC website. 0.54% of the stock is owned by company insiders.

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.