USS Investment Management Ltd Takes $3.26 Million Position in Trimble Inc. (NASDAQ:TRMB)

USS Investment Management Ltd acquired a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,075 shares of the scientific and technical instruments company's stock, valued at approximately $3,257,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Trimble during the 4th quarter worth approximately $190,391,000. Boston Partners raised its stake in Trimble by 217.3% in the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after purchasing an additional 2,312,937 shares during the last quarter. Select Equity Group L.P. raised its stake in Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after purchasing an additional 1,857,517 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Trimble in the 4th quarter valued at $50,041,000. Finally, JPMorgan Chase & Co. raised its stake in Trimble by 69.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after purchasing an additional 520,980 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The stock was 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 of the company's stock, valued at $1,286,046.91. This trade represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Trimble Trading Up 1.9%

Shares of TRMB traded up $1.37 during midday trading on Tuesday, reaching $71.92. The company had a trading volume of 1,588,316 shares, compared to its average volume of 1,395,239. The stock has a market cap of $17.16 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The firm has a 50 day simple moving average of $64.43 and a 200-day simple moving average of $69.62.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The company had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same period last year, the business posted $0.64 EPS. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

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.