Wakefield Asset Management LLLP Purchases New Stake in Trimble Inc. (NASDAQ:TRMB)

Wakefield Asset Management LLLP purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,343 shares of the scientific and technical instruments company's stock, valued at approximately $219,000.

Several other hedge funds have also recently modified their holdings of TRMB. Brighton Jones LLC acquired a new stake in Trimble in the fourth quarter valued at $211,000. Commonwealth Equity Services LLC increased its position in shares of Trimble by 10.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,527 shares of the scientific and technical instruments company's stock valued at $1,168,000 after buying an additional 1,551 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Trimble by 59.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,378 shares of the scientific and technical instruments company's stock valued at $380,000 after buying an additional 2,009 shares in the last quarter. Mizuho Securities USA LLC increased its position in shares of Trimble by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 23,145 shares of the scientific and technical instruments company's stock valued at $1,635,000 after buying an additional 7,309 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Trimble by 18.1% in the fourth quarter. American Century Companies Inc. now owns 15,421 shares of the scientific and technical instruments company's stock valued at $1,090,000 after buying an additional 2,360 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director owned 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jennifer Allison sold 3,156 shares of the company'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 sale, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This trade 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 valued at $1,538,152 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

TRMB has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Piper Sandler restated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $89.14.

Trimble Stock Performance

Shares of NASDAQ TRMB traded up $1.05 during trading on Friday, reaching $85.24. The stock had a trading volume of 1,873,724 shares, compared to its average volume of 1,563,915. Trimble Inc. has a one year low of $48.65 and a one year high of $85.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The stock has a market cap of $20.34 billion, a PE ratio of 13.91, a P/E/G ratio of 3.59 and a beta of 1.67. The firm's 50 day moving average price is $75.41 and its two-hundred day moving average price is $70.80.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The business's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. On average, research 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.