Assenagon Asset Management S.A. Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. lifted its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 338.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 815,909 shares of the scientific and technical instruments company's stock after purchasing an additional 629,960 shares during the quarter. Assenagon Asset Management S.A. owned 0.33% of Trimble worth $53,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC purchased a new stake in shares of Trimble in the fourth quarter worth $211,000. Apollon Wealth Management LLC increased its holdings in shares of Trimble by 5.5% in the fourth quarter. Apollon Wealth Management LLC now owns 3,577 shares of the scientific and technical instruments company's stock worth $253,000 after buying an additional 188 shares during the period. Empowered Funds LLC grew its position in Trimble by 10.6% during the 4th quarter. Empowered Funds LLC now owns 6,416 shares of the scientific and technical instruments company's stock worth $453,000 after acquiring an additional 614 shares during the last quarter. Savant Capital LLC grew its position in Trimble by 2.2% during the 4th quarter. Savant Capital LLC now owns 11,471 shares of the scientific and technical instruments company's stock worth $811,000 after acquiring an additional 247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position 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 worth $2,686,000 after acquiring an additional 9,813 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRMB. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a report on Thursday, February 20th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Oppenheimer raised their price target on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $88.43.

Trimble Stock Performance

Shares of NASDAQ:TRMB traded down $0.18 during mid-day trading on Thursday, reaching $72.36. 645,805 shares of the company traded hands, compared to its average volume of 1,375,135. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The firm has a market cap of $17.26 billion, a PE ratio of 11.88, a PEG ratio of 3.09 and a beta of 1.68. The company's 50 day moving average price is $65.65 and its 200-day moving average price is $69.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Trimble (NASDAQ:TRMB - Get Free Report) last released 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. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the company earned $0.64 EPS. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director now owns 17,939 shares in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.