Vident Advisory LLC Takes $271,000 Position in Trimble Inc. (NASDAQ:TRMB)

Vident Advisory LLC bought a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,829 shares of the scientific and technical instruments company's stock, valued at approximately $271,000.

A number of other institutional investors have also recently added to or reduced their stakes in TRMB. Cullen Frost Bankers Inc. lifted its holdings in Trimble by 0.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock valued at $1,623,000 after purchasing an additional 141 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock worth $2,017,000 after acquiring an additional 141 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Trimble by 12.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock valued at $93,000 after acquiring an additional 149 shares during the last quarter. M&T Bank Corp lifted its stake in Trimble by 1.6% in the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock worth $717,000 after purchasing an additional 156 shares in the last quarter. Finally, Huntington National Bank lifted its position in Trimble by 10.4% during the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock worth $125,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of Trimble 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 sale, the director now directly owns 17,939 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

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

Trimble Price Performance

Shares of NASDAQ:TRMB traded up $0.58 on Tuesday, reaching $71.42. 227,336 shares of the company were exchanged, compared to its average volume of 1,395,936. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $64.52 and a 200-day moving average of $69.60. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

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

About Trimble

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.