Redwood Investment Management LLC Acquires Shares of 6,606 Trimble Inc. (NASDAQ:TRMB)

Redwood Investment Management LLC bought a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,606 shares of the scientific and technical instruments company's stock, valued at approximately $467,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Trimble during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in shares of Trimble during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new position in Trimble in the fourth quarter worth about $36,000. Larson Financial Group LLC increased its holdings in Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares during the last quarter. Finally, Quarry LP raised its stake in Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 402 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Trading Up 0.9%

Shares of NASDAQ:TRMB opened at $71.89 on Friday. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.15 billion, a PE ratio of 11.80, a P/E/G ratio of 3.09 and a beta of 1.67. The company's 50-day moving average price is $64.21 and its 200 day moving average price is $69.33.

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 analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million during 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 business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. Sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective 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. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $88.43.

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Company insiders own 0.54% 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.

Want to see what other hedge funds are holding TRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trimble Inc. (NASDAQ:TRMB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.