853 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC purchased a new position in Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 853 shares of the scientific and technical instruments company’s stock, valued at approximately $48,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Trimble by 25.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after purchasing an additional 60,409 shares in the last quarter. Contour Asset Management LLC raised its position in Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after purchasing an additional 442,131 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Trimble by 484.3% in the first quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after purchasing an additional 75,182 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Trimble by 2.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after purchasing an additional 126,472 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Trimble by 11.6% during the fourth quarter. Hsbc Holdings PLC now owns 407,332 shares of the scientific and technical instruments company’s stock worth $21,691,000 after buying an additional 42,432 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird raised 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. Piper Sandler reissued an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. JPMorgan Chase & Co. lowered their price target on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 price target on shares of Trimble in a 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.33.

Trimble Trading Up 1.5 %

Shares of NASDAQ TRMB opened at $56.50 on Monday. The company’s fifty day moving average is $55.08 and its 200-day moving average is $57.52. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 58.85, a P/E/G ratio of 2.50 and a beta of 1.48. Trimble Inc. has a twelve month low of $39.57 and a twelve 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.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $0.51 earnings per share. Equities research analysts predict that Trimble Inc. will post 2.22 EPS 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.