No Street GP LP Increases Stake in Trimble Inc. (NASDAQ:TRMB)

No Street GP LP boosted its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 800,000 shares of the scientific and technical instruments company's stock after acquiring an additional 37,500 shares during the period. Trimble accounts for about 3.7% of No Street GP LP's investment portfolio, making the stock its 11th largest position. No Street GP LP owned about 0.33% of Trimble worth $56,528,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Trimble by 7.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,818,478 shares of the scientific and technical instruments company's stock valued at $128,488,000 after buying an additional 122,623 shares in the last quarter. Moore Capital Management LP grew its holdings in Trimble by 32.7% during the 4th quarter. Moore Capital Management LP now owns 196,962 shares of the scientific and technical instruments company's stock valued at $13,917,000 after buying an additional 48,494 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Trimble by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 2,794,854 shares of the scientific and technical instruments company's stock valued at $197,483,000 after buying an additional 26,223 shares in the last quarter. Gotham Asset Management LLC grew its holdings in Trimble by 4.7% during the 4th quarter. Gotham Asset Management LLC now owns 214,295 shares of the scientific and technical instruments company's stock valued at $15,142,000 after buying an additional 9,652 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in Trimble by 317.4% during the 4th quarter. Fred Alger Management LLC now owns 24,717 shares of the scientific and technical instruments company's stock valued at $1,747,000 after buying an additional 18,796 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction on Monday, February 24th. The stock was 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 directly owns 10,162 shares in the company, valued at approximately $729,529.98. This trade represents a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher F. Keating sold 5,709 shares of Trimble 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 disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TRMB has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Oppenheimer increased their price objective 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. increased their target price on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday. StockNews.com downgraded Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Cfra upgraded 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $88.43.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $0.65 during midday trading on Friday, reaching $71.89. 1,024,569 shares of the stock traded hands, compared to its average volume of 1,395,870. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The stock has a market capitalization of $17.15 billion, a PE ratio of 11.80, a P/E/G ratio of 3.09 and a beta of 1.67. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The company's 50 day moving average is $64.21 and its 200 day moving average is $69.33.

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 (EPS) for the quarter, topping 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 return on equity of 10.56% and a net margin of 40.84%. Trimble's revenue was down 11.8% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, equities research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

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.