Woodline Partners LP Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

Woodline Partners LP acquired a new stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,666 shares of the scientific and technical instruments company's stock, valued at approximately $1,036,000.

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

Trimble Stock Up 0.2%

Shares of NASDAQ:TRMB traded up $0.15 on Thursday, reaching $71.66. The company had a trading volume of 991,512 shares, compared to its average volume of 1,393,662. The firm has a market capitalization of $17.10 billion, a PE ratio of 11.77, a PEG ratio of 3.09 and a beta of 1.67. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The firm's 50 day simple moving average is $64.48 and its 200-day simple moving average is $69.65.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer upped their price objective on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report 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 report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $88.43.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director now directly 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 SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.