Vanguard Group Inc. lifted its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 30,288,658 shares of the scientific and technical instruments company's stock after acquiring an additional 582,124 shares during the quarter. Vanguard Group Inc. owned approximately 12.70% of Trimble worth $1,988,450,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in TRMB. Select Equity Group L.P. grew its stake in shares of Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after acquiring an additional 1,857,517 shares during the period. Assenagon Asset Management S.A. boosted its stake in Trimble by 338.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock worth $53,564,000 after purchasing an additional 629,960 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Trimble by 161.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 601,122 shares of the scientific and technical instruments company's stock worth $42,475,000 after purchasing an additional 370,900 shares during the period. Marshall Wace LLP bought a new stake in shares of Trimble during the fourth quarter valued at about $24,532,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Trimble by 8,114.0% in the first quarter. GAMMA Investing LLC now owns 346,304 shares of the scientific and technical instruments company's stock worth $22,735,000 after buying an additional 342,088 shares in the last quarter. Institutional investors own 93.21% of the company's stock.
Trimble Price Performance
Shares of NASDAQ:TRMB traded up $1.02 on Tuesday, hitting $83.61. The company's stock had a trading volume of 1,554,608 shares, compared to its average volume of 1,580,664. The company has a 50-day simple moving average of $78.16 and a 200 day simple moving average of $71.50. Trimble Inc. has a 1 year low of $52.22 and a 1 year high of $87.50. The company has a market capitalization of $19.90 billion, a PE ratio of 72.08, a PEG ratio of 3.55 and a beta of 1.69. 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 announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $875.70 million for 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%. Trimble's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
TRMB has been the subject of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer boosted their price target on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday. 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. Finally, JPMorgan Chase & Co. increased their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trimble currently has a consensus rating of "Buy" and an average target price of $90.50.
Read Our Latest Report on TRMB
Insider Transactions at Trimble
In related news, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the transaction, the director directly owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mark David Schwartz sold 1,476 shares of Trimble stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president directly owned 22,405 shares in the company, valued at $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 228,894 shares of company stock valued at $18,996,091. 0.54% of the stock is currently owned by corporate insiders.
About Trimble
(
Free Report)
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.
Recommended Stories
Before you consider Trimble, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trimble wasn't on the list.
While Trimble currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access