Trimble Inc. (NASDAQ:TRMB) Shares Purchased by MQS Management LLC

MQS Management LLC boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 72.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,836 shares of the scientific and technical instruments company’s stock after buying an additional 2,877 shares during the quarter. MQS Management LLC’s holdings in Trimble were worth $382,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after acquiring an additional 273,863 shares in the last quarter. Generation Investment Management LLP grew its holdings in Trimble by 89.5% during the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after acquiring an additional 5,796,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after purchasing an additional 126,472 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Trimble by 3.9% in the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock valued at $267,338,000 after purchasing an additional 188,790 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Trimble by 1,387.6% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRMB. JPMorgan Chase & Co. increased their target price on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird boosted their target price on 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 issued a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Up 3.7 %

TRMB stock opened at $60.20 on Friday. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 62.71, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The company has a fifty day moving average price of $55.24 and a 200 day moving average price of $57.48.

Trimble (NASDAQ:TRMB) last announced its 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. The business had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts expect 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.