Lmcg Investments LLC Boosts Holdings in Trimble Inc. (NASDAQ:TRMB)

Lmcg Investments LLC raised its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,252 shares of the scientific and technical instruments company's stock after buying an additional 29,794 shares during the period. Lmcg Investments LLC's holdings in Trimble were worth $5,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Trimble by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company's stock worth $2,099,064,000 after buying an additional 183,150 shares during the period. Select Equity Group L.P. grew its stake in shares of Trimble by 22.4% in the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after acquiring an additional 1,857,517 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Trimble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock worth $425,427,000 after acquiring an additional 138,136 shares during the period. Victory Capital Management Inc. raised its stake in shares of Trimble by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company's stock valued at $400,312,000 after acquiring an additional 222,679 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Trimble by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after acquiring an additional 134,277 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Cfra upgraded 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $88.43.

Trimble Stock Performance

NASDAQ TRMB traded up $1.06 on Friday, reaching $72.22. The stock had a trading volume of 914,300 shares, compared to its average volume of 1,399,700. The stock has a market cap of $17.23 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The business's 50-day moving average price is $64.83 and its 200 day moving average price is $69.64. 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 (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating 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 business had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same period in the prior year, the company earned $0.64 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

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.