Wellington Management Group LLP Increases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Wellington Management Group LLP lifted its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 32.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,360 shares of the scientific and technical instruments company's stock after purchasing an additional 5,472 shares during the period. Wellington Management Group LLP's holdings in Trimble were worth $1,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. 111 Capital purchased a new position in Trimble in the 4th quarter valued at approximately $1,162,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Trimble by 9.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,479 shares of the scientific and technical instruments company's stock valued at $2,366,000 after acquiring an additional 2,927 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new position in Trimble in the fourth quarter valued at $928,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Trimble during the 4th quarter worth $18,254,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Trimble by 43.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 5,764 shares of the scientific and technical instruments company's stock worth $407,000 after purchasing an additional 1,737 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Up 0.2%

Shares of NASDAQ:TRMB traded up $0.14 during trading on Monday, hitting $72.36. 894,396 shares of the company were exchanged, compared to its average volume of 1,395,677. The firm's 50 day moving average price is $64.96 and its 200-day moving average price is $69.64. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The stock has a market capitalization of $17.26 billion, a P/E ratio of 11.88, a PEG ratio of 3.09 and a beta of 1.68.

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 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 firm had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same period in the previous year, the company earned $0.64 earnings per share. Trimble's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trimble news, 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 transaction of $466,773.59. Following the transaction, the director now directly owns 17,939 shares of the company's stock, valued at approximately $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 at the SEC website. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TRMB shares. JPMorgan Chase & Co. lifted their price objective on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. 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 research note on Thursday, February 20th. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Finally, Oppenheimer increased their target price on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Trimble has a consensus rating of "Buy" and an average target price 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.