New England Research & Management Inc. Sells 5,125 Shares of Trimble Inc. (NASDAQ:TRMB)

New England Research & Management Inc. decreased its position in Trimble Inc. (NASDAQ:TRMB) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,000 shares of the scientific and technical instruments company’s stock after selling 5,125 shares during the quarter. New England Research & Management Inc.’s holdings in Trimble were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TRMB. 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 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 valued at $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. raised its position 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 valued at $36,000 after purchasing an additional 313 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Trimble in the second quarter valued at approximately $48,000. Finally, Brown Brothers Harriman & Co. bought a new position in Trimble during the second quarter worth $52,000. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Trimble stock traded down $0.63 on Monday, hitting $61.51. The company’s stock had a trading volume of 1,093,640 shares, compared to its average volume of 1,382,137. The firm has a market cap of $15.02 billion, a P/E ratio of 64.07, a price-to-earnings-growth ratio of 2.80 and a beta of 1.49. 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 fifty day moving average price of $56.27 and a 200-day moving average price of $57.23. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating 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 the consensus estimate of $862.50 million. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRMB. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird boosted 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. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble 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.