Brown Brothers Harriman & Co. Takes Position in Trimble Inc. (NASDAQ:TRMB)

Brown Brothers Harriman & Co. purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 937 shares of the scientific and technical instruments company’s stock, valued at approximately $52,000.

Several other institutional investors have also recently made changes to their positions in TRMB. Vanguard Group Inc. lifted 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 buying an additional 273,863 shares in the last quarter. Generation Investment Management LLP increased its position in shares of Trimble by 89.5% during the fourth 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 during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake 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 buying an additional 126,472 shares during the period. Primecap Management Co. CA lifted its stake in Trimble by 3.9% in the fourth quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after acquiring an additional 188,790 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $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 Ratings Changes

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

Trimble Stock Up 3.7 %

TRMB opened at $60.20 on Friday. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The firm has a 50 day moving average price of $55.24 and a 200 day moving average price of $57.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The company has a market cap of $14.70 billion, a PE ratio of 62.71, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analyst estimates 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 business earned $0.51 earnings per share. Sell-side analysts expect that Trimble Inc. will post 2.22 earnings per share for the current year.

Trimble Company 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.