Quantinno Capital Management LP Grows Stock Position in Trimble Inc. (NASDAQ:TRMB)

Quantinno Capital Management LP grew its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 517.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,206 shares of the scientific and technical instruments company's stock after purchasing an additional 44,589 shares during the period. Quantinno Capital Management LP's holdings in Trimble were worth $3,760,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Trimble by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company's stock valued at $2,099,064,000 after purchasing an additional 183,150 shares during the period. Geode Capital Management LLC increased its holdings in shares of Trimble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock valued at $425,427,000 after purchasing an additional 138,136 shares during the period. Victory Capital Management Inc. increased its holdings 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 purchasing an additional 222,679 shares during the period. Contour Asset Management LLC increased its holdings in shares of Trimble by 4.4% in the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock valued at $330,772,000 after purchasing an additional 197,913 shares during the period. Finally, Boston Partners increased its holdings in shares of Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after purchasing an additional 2,312,937 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Price Performance

Trimble stock traded down $1.55 during trading hours on Wednesday, hitting $70.76. The stock had a trading volume of 868,425 shares, compared to its average volume of 1,396,653. 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 $16.88 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The stock's fifty day moving average is $64.44 and its two-hundred day moving average is $69.55.

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. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In other news, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRMB shares. Oppenheimer upped their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. StockNews.com lowered Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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.