Moore Capital Management LP Has $13.92 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Moore Capital Management LP increased its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,962 shares of the scientific and technical instruments company's stock after buying an additional 48,494 shares during the quarter. Moore Capital Management LP owned about 0.08% of Trimble worth $13,917,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its position in shares of Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock worth $1,623,000 after acquiring an additional 141 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in 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 during the period. SRS Capital Advisors Inc. grew its position 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 worth $93,000 after purchasing an additional 149 shares during the last quarter. M&T Bank Corp grew its position 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 during the last quarter. Finally, Huntington National Bank increased its stake in shares of 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 valued at $125,000 after purchasing an additional 167 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now owns 10,162 shares in the company, valued at approximately $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.

Trimble Price Performance

Shares of Trimble stock traded down $0.03 during trading on Thursday, hitting $71.24. The stock had a trading volume of 791,707 shares, compared to its average volume of 1,399,291. The business has a fifty day moving average of $64.00 and a two-hundred day moving average of $69.19. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The firm has a market cap of $17.00 billion, a P/E ratio of 11.70, a PEG ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

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 company had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. Trimble's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. On average, sell-side analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several analyst reports. Oppenheimer boosted their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target for the company in a research report on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $85.50.

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.