Prudential PLC Has $4.55 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Prudential PLC lifted its position in Trimble Inc. (NASDAQ:TRMB) by 17.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,432 shares of the scientific and technical instruments company’s stock after buying an additional 11,977 shares during the quarter. Prudential PLC’s holdings in Trimble were worth $4,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TRMB. Spire Wealth Management raised its stake in Trimble by 22.7% during the 4th quarter. Spire Wealth Management now owns 1,873 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 347 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Trimble by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,344,256 shares of the scientific and technical instruments company’s stock valued at $71,514,000 after purchasing an additional 37,136 shares during the last quarter. Principal Securities Inc. acquired a new position in Trimble during the 4th quarter valued at $52,000. BNP Paribas Financial Markets raised its stake in Trimble by 40.8% during the 4th quarter. BNP Paribas Financial Markets now owns 225,799 shares of the scientific and technical instruments company’s stock valued at $12,013,000 after purchasing an additional 65,480 shares during the last quarter. Finally, Jump Financial LLC raised its stake in Trimble by 80.9% during the 4th quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after purchasing an additional 17,979 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Up 1.7 %

Shares of NASDAQ:TRMB opened at $55.22 on Wednesday. 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 Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The firm has a market cap of $13.49 billion, a P/E ratio of 57.52, a P/E/G ratio of 2.44 and a beta of 1.48. The company’s 50-day moving average price is $55.08 and its two-hundred day moving average price is $57.65.

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, beating 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 for the quarter, compared to the consensus estimate of $862.50 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 12.4% compared to the same quarter last year. As a group, research analysts forecast that Trimble Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRMB. Piper Sandler reissued an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird boosted their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Raymond James reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Trimble in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and an average target price of $65.33.

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.