Thrivent Financial for Lutherans Increases Stock Position in Trimble Inc. (NASDAQ:TRMB)

Thrivent Financial for Lutherans boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,647,641 shares of the scientific and technical instruments company’s stock after buying an additional 239,673 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.49% of Trimble worth $203,976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TRMB. Vanguard Group Inc. lifted its position in Trimble by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after purchasing an additional 273,863 shares during the period. Generation Investment Management LLP grew its stake in shares of Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after buying an additional 5,796,030 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after buying an additional 126,472 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Trimble by 3.9% in the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after acquiring an additional 188,790 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Down 2.7 %

Trimble stock opened at $58.57 on Friday. The company has a 50-day simple moving average of $55.34 and a 200-day simple moving average of $57.47. The firm has a market capitalization of $14.30 billion, a P/E ratio of 61.01, a P/E/G ratio of 2.63 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. Trimble’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. As a group, equities analysts expect that Trimble Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TRMB shares. Robert W. Baird increased their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trimble currently has an average rating of “Moderate Buy” and an average price target of $66.67.

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.