University of Texas Texas AM Investment Management Co. Makes New $3.25 Million Investment in Trimble Inc. (NASDAQ:TRMB)

Key Points

• The University of Texas Texas A&M Investment Management Co. has made a new investment of approximately $3.25 million in Trimble Inc. (NASDAQ: TRMB), acquiring 49,443 shares of the company's stock.
• A significant percentage of Trimble's stock, approximately 93.21%, is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Trimble has received mixed analyst ratings, with one investment analyst rating the stock as "strong buy," while others have varied between "buy" and "hold," reflecting diverse market sentiment.

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 49,443 shares of the scientific and technical instruments company's stock, valued at approximately $3,246,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in shares of Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock valued at $268,000 after purchasing an additional 943 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of 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 worth $26,560,000 after acquiring an additional 17,785 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after acquiring an additional 452 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock worth $2,355,000 after acquiring an additional 2,397 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 acquiring an additional 5,472 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

NASDAQ:TRMB traded down $0.77 during trading hours on Thursday, reaching $84.42. 512,498 shares of the company's stock were exchanged, compared to its average volume of 1,536,740. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 3.61 and a beta of 1.67. The company has a 50-day moving average of $76.21 and a 200 day moving average of $71.07. 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 Inc. has a 1-year low of $48.65 and a 1-year high of $86.42.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results 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. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity

In other Trimble news, VP Mark David Schwartz sold 1,404 shares of the 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 completion of the transaction, the vice president directly owned 21,001 shares of the company's stock, valued at approximately $1,680,080. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jennifer Allison sold 3,156 shares of the firm's stock in a transaction on 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 transaction, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,047 shares of company stock worth $1,538,152 in the last three months. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on TRMB shares. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted 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 reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, Oppenheimer boosted their price target on shares of Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One equities 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $89.14.

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.