Lombard Odier Asset Management Europe Ltd Invests $219,000 in Trimble Inc. (NASDAQ:TRMB)

Lombard Odier Asset Management Europe Ltd bought a new position in Trimble Inc. (NASDAQ:TRMB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,908 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

Several other large investors have also added to or reduced their stakes in the business. Tobam bought a new position in shares of Trimble in the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC raised its position in Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. lifted its stake in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Trimble during the 2nd quarter worth $48,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Trimble in the second quarter valued at about $52,000. Institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TRMB. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday, August 19th. Robert W. Baird upped their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Trimble presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Price Performance

NASDAQ TRMB opened at $58.57 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The company 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. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The firm’s 50-day simple moving average is $55.37 and its two-hundred day simple moving average is $57.38.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS 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 period last year, the firm earned $0.51 EPS. Trimble’s revenue for the quarter was down 12.4% on a year-over-year basis. Research analysts predict that Trimble Inc. will post 2.22 earnings per share for the current 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.