Sanctuary Advisors LLC Takes $419,000 Position in Trimble Inc. (NASDAQ:TRMB)

Sanctuary Advisors LLC acquired a new stake in Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,966 shares of the scientific and technical instruments company’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after purchasing an additional 3,589,249 shares during the last quarter. AQR Capital Management LLC lifted its stake in Trimble by 2,035.1% during the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after purchasing an additional 1,093,275 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares during the last quarter. Capital Group Private Client Services Inc. lifted its stake in Trimble by 77.8% during the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after purchasing an additional 390,171 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Trimble by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after purchasing an additional 361,421 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Down 1.1 %

TRMB stock opened at $61.07 on Thursday. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. 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 $14.91 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 2.83 and a beta of 1.49. The company has a 50 day moving average of $57.68 and a two-hundred day moving average of $57.19.

Trimble (NASDAQ:TRMB) last released 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. 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 prior year, the firm earned $0.51 EPS. The company’s revenue 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 fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRMB. Oppenheimer reissued an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. 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. Finally, Robert W. Baird upped their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average target price 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.