Dimensional Fund Advisors LP Increases Stake in Trimble Inc. (NASDAQ:TRMB)

Dimensional Fund Advisors LP boosted its stake in Trimble Inc. (NASDAQ:TRMB) by 24.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,839,180 shares of the scientific and technical instruments company’s stock after acquiring an additional 361,421 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Trimble were worth $102,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Trimble in the 2nd quarter valued at $52,000. Wilkins Investment Counsel Inc. grew its position in Trimble by 1.5% during the second quarter. Wilkins Investment Counsel Inc. now owns 97,450 shares of the scientific and technical instruments company’s stock valued at $5,449,000 after acquiring an additional 1,400 shares during the period. Envestnet Asset Management Inc. increased its stake in Trimble by 6.5% during the second quarter. Envestnet Asset Management Inc. now owns 228,235 shares of the scientific and technical instruments company’s stock worth $12,763,000 after acquiring an additional 13,845 shares during the last quarter. SYM FINANCIAL Corp purchased a new position in shares of Trimble in the 2nd quarter worth about $205,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Trimble by 2.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 58,542 shares of the scientific and technical instruments company’s stock valued at $3,239,000 after purchasing an additional 1,252 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Robert W. Baird upped their target price on 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. According to MarketBeat, Trimble currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Price Performance

TRMB opened at $58.52 on Wednesday. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm has a market cap of $14.29 billion, a price-to-earnings ratio of 60.96, a PEG ratio of 2.63 and a beta of 1.48. The company has a fifty day simple moving average of $55.37 and a 200 day simple moving average of $57.35.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Equities research analysts expect that Trimble Inc. will post 2.22 EPS for the current fiscal 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.