Trimble Inc. (NASDAQ:TRMB) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its position in Trimble Inc. (NASDAQ:TRMB) by 17.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,695 shares of the scientific and technical instruments company’s stock after acquiring an additional 550 shares during the period. First Eagle Investment Management LLC’s holdings in Trimble were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TRMB. Generation Investment Management LLP lifted 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 worth $652,787,000 after acquiring an additional 5,796,030 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after purchasing an additional 3,589,249 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares during the period. Contour Asset Management LLC lifted its stake in shares of Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after purchasing an additional 442,131 shares during the period. Finally, Capital Group Private Client Services Inc. lifted its stake in shares of Trimble by 77.8% in the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after purchasing an additional 390,171 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. 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. raised their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, August 19th. Finally, Robert W. Baird lifted their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Stock Performance

Shares of TRMB opened at $58.57 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The stock has a market cap of $14.30 billion, a P/E ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. The company has a 50-day moving average of $55.34 and a two-hundred day moving average of $57.44. Trimble Inc. has a 12-month low of $39.57 and a 12-month 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 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business 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%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, research analysts predict that Trimble Inc. will post 2.22 EPS for the current fiscal year.

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.