Raiffeisen Bank International AG Purchases 8,670 Shares of Trimble Inc. (NASDAQ:TRMB)

Key Points

• Raiffeisen Bank International AG increased its holdings in Trimble Inc. by 15.2%, owning 65,641 shares worth approximately $4.3 million as of the latest SEC filing.
• Trimble's stock is currently trading at $82.64, with a market capitalization of $19.72 billion and a P/E ratio of 13.48.
• Analysts have shown optimism, with price targets for Trimble's stock being raised by firms like JPMorgan Chase & Co. to $95.00, supporting a consensus rating of "Buy".

Raiffeisen Bank International AG grew its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,641 shares of the scientific and technical instruments company's stock after acquiring an additional 8,670 shares during the period. Raiffeisen Bank International AG's holdings in Trimble were worth $4,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the stock. J. Safra Sarasin Holding AG increased its position in shares of Trimble by 61.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 105,622 shares of the scientific and technical instruments company's stock valued at $6,934,000 after buying an additional 40,394 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Trimble by 1.4% during the first quarter. PNC Financial Services Group Inc. now owns 33,133 shares of the scientific and technical instruments company's stock worth $2,175,000 after acquiring an additional 452 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Trimble by 1.2% in the first quarter. Baker Avenue Asset Management LP now owns 70,092 shares of the scientific and technical instruments company's stock valued at $4,602,000 after buying an additional 843 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Trimble during the first quarter worth $339,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Trimble in the first quarter valued at $340,000. Institutional investors own 93.21% of the company's stock.

Trimble Stock Down 1.8%

Shares of NASDAQ TRMB traded down $1.55 during trading on Tuesday, reaching $82.70. The company had a trading volume of 2,126,982 shares, compared to its average volume of 1,831,050. The stock has a market cap of $19.73 billion, a PE ratio of 13.49, a P/E/G ratio of 3.59 and a beta of 1.69. The business's 50-day moving average is $76.99 and its 200 day moving average is $71.28. Trimble Inc. has a 12-month low of $49.84 and a 12-month high of $86.42. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

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 analysts' consensus estimates of $0.60 by $0.01. The company had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. Trimble's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities analysts forecast 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 Kaigham Gabriel sold 6,511 shares of the company'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 sale, the director directly owned 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Mark David Schwartz sold 1,404 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the transaction, the vice president owned 21,001 shares of the company's stock, valued at approximately $1,680,080. The trade was a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,047 shares of company stock valued at $1,538,152 in the last ninety days. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. 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. Finally, Oppenheimer raised their price target on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $89.14.

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.