Amalgamated Bank Cuts Position in Trimble Inc. (NASDAQ:TRMB)

Amalgamated Bank trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,895 shares of the scientific and technical instruments company’s stock after selling 1,912 shares during the period. Amalgamated Bank’s holdings in Trimble were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Mercer Global Advisors Inc. ADV lifted its position in Trimble by 22.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 16,611 shares of the scientific and technical instruments company’s stock valued at $929,000 after purchasing an additional 3,026 shares during the last quarter. Argent Trust Co raised its position in shares of Trimble by 97.4% during the 2nd quarter. Argent Trust Co now owns 6,284 shares of the scientific and technical instruments company’s stock valued at $351,000 after buying an additional 3,100 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Trimble in the 2nd quarter valued at about $331,000. Dimensional Fund Advisors LP grew its position in Trimble by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after acquiring an additional 361,421 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in Trimble during the second quarter worth approximately $52,000. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

Trimble stock opened at $58.57 on Tuesday. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The firm has a 50-day moving average of $55.37 and a two-hundred day moving average of $57.38. Trimble Inc. has a 1 year low of $39.57 and a 1 year 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.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period last year, the business posted $0.51 EPS. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. On average, research analysts forecast that Trimble Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on TRMB. Robert W. Baird lifted their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective 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. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average 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.