Quantinno Capital Management LP Has $3.76 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Quantinno Capital Management LP increased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 517.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,206 shares of the scientific and technical instruments company's stock after buying an additional 44,589 shares during the quarter. Quantinno Capital Management LP's holdings in Trimble were worth $3,760,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Mufg Securities Americas Inc. acquired a new position in shares of Trimble during the 4th quarter worth approximately $255,000. Nomura Holdings Inc. acquired a new position in shares of Trimble during the 4th quarter worth approximately $568,000. No Street GP LP increased its position in shares of Trimble by 4.9% during the 4th quarter. No Street GP LP now owns 800,000 shares of the scientific and technical instruments company's stock worth $56,528,000 after purchasing an additional 37,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Trimble by 7.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,818,478 shares of the scientific and technical instruments company's stock worth $128,488,000 after purchasing an additional 122,623 shares during the last quarter. Finally, Moore Capital Management LP increased its position in shares of Trimble by 32.7% during the 4th quarter. Moore Capital Management LP now owns 196,962 shares of the scientific and technical instruments company's stock worth $13,917,000 after purchasing an additional 48,494 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on TRMB shares. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer boosted their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on 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 downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $88.43.

Trimble Stock Performance

Shares of NASDAQ TRMB traded down $0.24 during midday trading on Friday, hitting $70.55. 929,216 shares of the company's stock were exchanged, compared to its average volume of 1,394,463. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78. The company's 50 day moving average price is $64.46 and its 200 day moving average price is $69.66. The firm has a market capitalization of $16.83 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. As a group, analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction on Wednesday, May 21st. The stock was 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 directly owns 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares of the company's stock, valued at $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,361 shares of company stock worth $1,031,524 in the last ninety days. 0.54% of the stock is owned by company insiders.

About Trimble

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.