56,971 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,971 shares of the scientific and technical instruments company's stock, valued at approximately $4,012,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Redwood Investment Management LLC acquired a new position in Trimble during the 4th quarter worth approximately $467,000. ProShare Advisors LLC lifted its position in shares of Trimble by 12.7% during the 4th quarter. ProShare Advisors LLC now owns 52,953 shares of the scientific and technical instruments company's stock worth $3,742,000 after purchasing an additional 5,977 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Trimble by 517.5% during the fourth quarter. Quantinno Capital Management LP now owns 53,206 shares of the scientific and technical instruments company's stock worth $3,760,000 after purchasing an additional 44,589 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Trimble during the fourth quarter worth $255,000. Finally, Nomura Holdings Inc. purchased a new position in Trimble in the fourth quarter valued at $568,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Activity at Trimble

In other news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $153,702.39. Following the transaction, the director now 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 disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TRMB shares. Oppenheimer lifted their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. 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 note on Thursday, February 20th. Piper Sandler reaffirmed an "overweight" rating and issued 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 report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $88.43.

Trimble Stock Performance

Shares of TRMB traded down $1.02 during mid-day trading on Wednesday, reaching $71.30. 318,524 shares of the company's stock were exchanged, compared to its average volume of 1,392,890. The business's fifty day simple moving average is $64.41 and its 200-day simple moving average is $69.54. The stock has a market capitalization of $17.01 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. 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 data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. During the same period last year, the firm posted $0.64 EPS. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble Company 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.