3,908 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,908 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tobam acquired a new stake in Trimble during the first quarter worth about $35,000. GPS Wealth Strategies Group LLC increased its position in Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 479 shares in the last quarter. Blue Trust Inc. raised its holdings in Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Trimble during the second quarter valued at approximately $48,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Trimble during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $58.57 on Tuesday. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. 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 firm has a market cap of $14.30 billion, a PE ratio of 61.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The company has a fifty day simple moving average of $55.37 and a 200 day simple moving average of $57.38.

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

Wall Street Analyst Weigh In

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