Mitsubishi UFJ Asset Management Co. Ltd. Buys 53,453 Shares of Trimble Inc. (NASDAQ:TRMB)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 14.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 429,821 shares of the scientific and technical instruments company's stock after acquiring an additional 53,453 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Trimble worth $28,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Trimble in the 4th quarter worth about $211,000. Wellington Management Group LLP increased its position in shares of Trimble by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after buying an additional 5,472 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Trimble by 35.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 273,015 shares of the scientific and technical instruments company's stock worth $19,291,000 after purchasing an additional 70,928 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Trimble by 70.9% in the fourth quarter. Bank of Nova Scotia now owns 53,390 shares of the scientific and technical instruments company's stock worth $3,773,000 after purchasing an additional 22,142 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Trimble by 460.4% in the fourth quarter. Covestor Ltd now owns 1,272 shares of the scientific and technical instruments company's stock worth $90,000 after buying an additional 1,045 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at approximately $1,747,590. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,894 shares of company stock worth $18,996,091 in the last ninety days. 0.54% of the stock is owned by company insiders.

Trimble Trading Up 1.2%

TRMB stock traded up $1.02 on Tuesday, reaching $83.61. The company's stock had a trading volume of 1,554,608 shares, compared to its average volume of 2,070,572. The business has a fifty day simple moving average of $78.40 and a two-hundred day simple moving average of $71.58. Trimble Inc. has a 12-month low of $52.22 and a 12-month high of $87.50. The firm has a market cap of $19.90 billion, a PE ratio of 72.08, a PEG ratio of 3.50 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The company had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. During the same quarter last year, the firm posted $0.62 earnings per share. The firm's revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

TRMB has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer increased their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Raymond James Financial reissued an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $90.50.

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.