Trimble Inc. (NASDAQ:TRMB) Holdings Lifted by Rhumbline Advisers

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

Other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Trimble by 5.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock valued at $26,560,000 after acquiring an additional 17,785 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Trimble by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock worth $1,580,000 after buying an additional 5,472 shares during the last quarter. Atria Investments Inc raised its holdings in Trimble by 15.4% in the fourth quarter. Atria Investments Inc now owns 4,022 shares of the scientific and technical instruments company's stock valued at $284,000 after acquiring an additional 537 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Trimble by 34.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 38,534 shares of the scientific and technical instruments company's stock valued at $2,686,000 after acquiring an additional 9,813 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Trimble by 17.9% during the 4th quarter. HighTower Advisors LLC now owns 47,216 shares of the scientific and technical instruments company's stock worth $3,336,000 after acquiring an additional 7,152 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Buying and Selling

In related news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the sale, the director now owns 17,939 shares in the company, valued at $1,286,046.91. This 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 through this hyperlink. 0.54% of the stock is owned by company insiders.

Trimble Stock Performance

TRMB traded up $1.06 on Friday, hitting $72.22. 914,300 shares of the company's stock were exchanged, compared to its average volume of 1,397,690. The firm 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. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock has a fifty day moving average of $64.96 and a two-hundred day moving average of $69.64. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. Trimble's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock in a research note on Thursday, February 20th. Oppenheimer upped their target price on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price 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.