Trimble Inc. (NASDAQ:TRMB) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,219 shares of the scientific and technical instruments company's stock after purchasing an additional 3,559 shares during the period. Oppenheimer & Co. Inc.'s holdings in Trimble were worth $2,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. purchased a new stake in shares of Trimble during the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Trimble during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Trimble during the 4th quarter worth about $36,000. Central Pacific Bank Trust Division boosted its stake in shares of Trimble by 174.9% during 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 boosted its stake in shares of Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after acquiring an additional 422 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Up 1.2%

Shares of NASDAQ TRMB opened at $75.03 on Friday. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The company has a 50 day simple moving average of $68.81 and a 200-day simple moving average of $69.60. The company has a market capitalization of $17.90 billion, a P/E ratio of 12.24, a P/E/G ratio of 3.16 and a beta of 1.68.

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

Insider Activity at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the firm'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 completion of the transaction, the director now owns 17,939 shares of the company's stock, valued at $1,286,046.91. This trade represents a 26.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRMB shares. Piper Sandler reissued an "overweight" rating and set a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One investment 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.com, Trimble presently has a consensus rating of "Buy" and a consensus price target of $88.43.

Trimble 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.

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