Select Equity Group L.P. Buys 1,857,517 Shares of Trimble Inc. (NASDAQ:TRMB)

Select Equity Group L.P. increased its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,154,341 shares of the scientific and technical instruments company's stock after purchasing an additional 1,857,517 shares during the quarter. Trimble makes up approximately 2.9% of Select Equity Group L.P.'s portfolio, making the stock its 10th largest position. Select Equity Group L.P. owned about 4.13% of Trimble worth $717,506,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Trimble in the fourth quarter valued at approximately $190,391,000. Boston Partners raised its position in shares of Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after purchasing an additional 2,312,937 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Trimble in the fourth quarter valued at approximately $50,041,000. JPMorgan Chase & Co. raised its position in shares of Trimble by 69.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after purchasing an additional 520,980 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Trimble by 1,064.6% in the fourth quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company's stock valued at $32,257,000 after purchasing an additional 417,313 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction on Monday, February 24th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher F. Keating sold 5,709 shares of the business's stock in a transaction 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. 0.54% of the stock is owned by corporate insiders.

Trimble Stock Performance

TRMB stock traded up $0.62 on Tuesday, reaching $72.31. 1,566,472 shares of the company were exchanged, compared to its average volume of 1,397,051. The firm has a market capitalization of $17.25 billion, a PE ratio of 11.87, 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. The stock's fifty day moving average price is $64.29 and its 200 day moving average price is $69.52. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TRMB shares. Oppenheimer lifted their price target 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. 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 research report on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. StockNews.com lowered shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $88.43.

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.