Dimensional Fund Advisors LP Increases Stake in Trimble Inc. (NASDAQ:TRMB)

Dimensional Fund Advisors LP grew its position in Trimble Inc. (NASDAQ:TRMB) by 24.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,839,180 shares of the scientific and technical instruments company’s stock after acquiring an additional 361,421 shares during the period. Dimensional Fund Advisors LP owned about 0.75% of Trimble worth $102,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in Trimble during the 4th quarter worth approximately $775,000. UBS Group AG grew its stake in shares of Trimble by 64.8% during the 4th quarter. UBS Group AG now owns 315,390 shares of the scientific and technical instruments company’s stock worth $16,779,000 after purchasing an additional 123,959 shares during the period. Assetmark Inc. increased its holdings in shares of Trimble by 15.6% in the 4th quarter. Assetmark Inc. now owns 18,984 shares of the scientific and technical instruments company’s stock valued at $1,010,000 after purchasing an additional 2,562 shares in the last quarter. US Bancorp DE lifted its stake in shares of Trimble by 6.2% in the fourth quarter. US Bancorp DE now owns 34,207 shares of the scientific and technical instruments company’s stock valued at $1,820,000 after purchasing an additional 1,993 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Trimble during the fourth quarter worth about $191,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Trimble Price Performance

NASDAQ:TRMB opened at $58.52 on Wednesday. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The firm has a market cap of $14.29 billion, a price-to-earnings ratio of 60.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The company’s 50-day moving average is $55.37 and its two-hundred day moving average is $57.35. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $870.80 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. Research analysts expect that Trimble Inc. will post 2.22 EPS for the current year.

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.