Rhumbline Advisers Purchases 37,051 Shares of Trimble Inc. (NASDAQ:TRMB)

Rhumbline Advisers grew its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 499,109 shares of the scientific and technical instruments company's stock after purchasing an additional 37,051 shares during the quarter. Rhumbline Advisers owned about 0.21% of Trimble worth $32,766,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Trimble by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company's stock worth $2,099,064,000 after acquiring an additional 183,150 shares during the period. Select Equity Group L.P. increased its stake in Trimble by 22.4% in the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares during the last quarter. Geode Capital Management LLC lifted its stake in Trimble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock worth $425,427,000 after purchasing an additional 138,136 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Trimble by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company's stock worth $400,312,000 after buying an additional 222,679 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Trimble by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after acquiring an additional 134,277 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the firm's 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. This trade represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company's stock.

Trimble Trading Up 1.5%

Shares of TRMB stock traded up $1.06 during mid-day trading on Friday, hitting $72.22. The company's stock had a trading volume of 914,300 shares, compared to its average volume of 1,399,700. The company has a market cap of $17.23 billion, a PE ratio of 11.86, a P/E/G ratio of 3.09 and a beta of 1.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The company's fifty day simple moving average is $64.83 and its 200-day simple moving average is $69.64. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRMB. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Oppenheimer upped their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average 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.