Handelsbanken Fonder AB Raises Position in Trimble Inc. (NASDAQ:TRMB)

Handelsbanken Fonder AB boosted its position in Trimble Inc. (NASDAQ:TRMB) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,758 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,099 shares during the period. Handelsbanken Fonder AB’s holdings in Trimble were worth $4,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Trimble by 139.0% in the third quarter. SG Americas Securities LLC now owns 178,804 shares of the scientific and technical instruments company’s stock valued at $11,102,000 after buying an additional 103,979 shares during the period. Czech National Bank raised its stake in Trimble by 6.9% in the 3rd quarter. Czech National Bank now owns 49,747 shares of the scientific and technical instruments company’s stock valued at $3,089,000 after acquiring an additional 3,210 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Trimble in the 2nd quarter valued at about $6,084,000. Sanctuary Advisors LLC purchased a new stake in Trimble during the second quarter valued at about $419,000. Finally, Aristides Capital LLC bought a new position in Trimble during the second quarter worth about $219,000. 93.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TRMB shares. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Robert W. Baird increased their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $61.48 on Wednesday. The stock’s 50-day simple moving average is $56.42 and its two-hundred day simple moving average is $57.21. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The firm has a market capitalization of $15.01 billion, a P/E ratio of 64.04, a P/E/G ratio of 2.79 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.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data 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 period in the prior year, the business earned $0.51 earnings per share. Trimble’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Trimble Inc. will post 2.23 EPS for the current fiscal year.

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.