Gotham Asset Management LLC Buys 37,806 Shares of Trimble Inc. $TRMB

Key Points

• Gotham Asset Management LLC increased its stake in Trimble Inc. by 17.6% during the first quarter, owning approximately 252,101 shares valued at $16.55 million.
• In the latest financial results, Trimble reported an EPS of $0.71, surpassing expectations and showing slight revenue growth to $875.70 million compared to the previous year.
• Several brokerages have raised their price targets for Trimble, with Oppenheimer increasing it to $94.00 and Raymond James adjusting theirs to $93.00, signaling strong market confidence in the company's performance.

Gotham Asset Management LLC increased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 17.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,101 shares of the scientific and technical instruments company's stock after purchasing an additional 37,806 shares during the period. Gotham Asset Management LLC owned about 0.11% of Trimble worth $16,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division lifted its position in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares during the period. Putney Financial Group LLC bought a new position in shares of Trimble during the 4th quarter worth approximately $51,000. State of Wyoming bought a new position in shares of Trimble during the 1st quarter worth approximately $58,000. Farther Finance Advisors LLC grew its stake in Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares during the last quarter. Finally, Friedenthal Financial grew its stake in Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after buying an additional 453 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several research analyst reports. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Raymond James Financial reiterated an "outperform" rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Oppenheimer lifted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, Trimble has an average rating of "Buy" and an average target price of $90.50.

Trimble Trading Down 1.5%

Shares of NASDAQ TRMB traded down $1.23 during midday trading on Tuesday, hitting $80.06. The stock had a trading volume of 1,086,582 shares, compared to its average volume of 1,569,826. The company's 50-day simple moving average is $81.64 and its 200 day simple moving average is $72.48. The firm has a market cap of $19.05 billion, a P/E ratio of 69.02, a price-to-earnings-growth ratio of 3.31 and a beta of 1.66. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Insider Transactions at Trimble

In related news, VP Mark David Schwartz sold 1,404 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares in the company, valued at approximately $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of the company'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 $252,480.00. Following the completion of the sale, the vice president owned 2,882 shares of the company's stock, valued at $230,560. This represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,992 shares of company stock valued at $18,579,506 over the last quarter. Corporate insiders own 0.54% of the company's stock.

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.