Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC grew its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 317.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,717 shares of the scientific and technical instruments company's stock after acquiring an additional 18,796 shares during the period. Fred Alger Management LLC's holdings in Trimble were worth $1,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TRMB. Barclays PLC boosted its holdings in shares of Trimble by 4.3% in the third quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company's stock valued at $46,151,000 after acquiring an additional 30,457 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Trimble by 18.4% in the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company's stock valued at $24,296,000 after buying an additional 60,752 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Trimble by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,038 shares of the scientific and technical instruments company's stock valued at $2,193,000 after acquiring an additional 486 shares during the period. Czech National Bank grew its holdings in shares of Trimble by 6.4% in the 4th quarter. Czech National Bank now owns 52,950 shares of the scientific and technical instruments company's stock worth $3,741,000 after acquiring an additional 3,203 shares during the period. Finally, Friedenthal Financial purchased a new position in Trimble in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Stock Up 0.0%

Trimble stock traded up $0.02 during trading on Wednesday, reaching $71.27. 1,324,864 shares of the company's stock were exchanged, compared to its average volume of 1,400,600. The company's 50-day moving average is $63.96 and its two-hundred day moving average is $69.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 10.56% and a net margin of 40.84%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. On average, analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on TRMB shares. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. Oppenheimer upped their target price on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler restated an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $85.50.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Calvin Dalton sold 2,141 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now owns 10,162 shares in the company, valued at $729,529.98. The trade was a 17.40% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

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.