SG Americas Securities LLC Increases Stock Position in Trimble Inc. (NASDAQ:TRMB)

SG Americas Securities LLC grew its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 139.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,804 shares of the scientific and technical instruments company’s stock after acquiring an additional 103,979 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Trimble worth $11,102,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Tobam purchased a new position in shares of Trimble in the first quarter worth approximately $35,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble in the second quarter worth approximately $48,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Trimble in the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

TRMB traded up $0.55 during trading hours on Friday, hitting $62.14. The company’s stock had a trading volume of 1,110,248 shares, compared to its average volume of 1,594,126. The business’s 50-day moving average price is $56.14 and its 200-day moving average price is $57.34. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The stock has a market cap of $15.18 billion, a price-to-earnings ratio of 64.73, a P/E/G ratio of 2.80 and a beta of 1.49. 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 quarterly 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 for the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.