APG Asset Management N.V. Has $3.43 Million Position in Trimble Inc. (NASDAQ:TRMB)

APG Asset Management N.V. boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 132.3% during the second quarter, Holdings Channel.com reports. The fund owned 65,784 shares of the scientific and technical instruments company’s stock after acquiring an additional 37,470 shares during the period. APG Asset Management N.V.’s holdings in Trimble were worth $3,432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRMB. Vanguard Group Inc. raised its stake in 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 valued at $1,554,164,000 after purchasing an additional 273,863 shares in the last quarter. Generation Investment Management LLP raised its position in shares of Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after buying an additional 5,796,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Trimble by 2.4% during the 1st 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 acquiring an additional 126,472 shares during the period. Victory Capital Management Inc. boosted its position in shares of Trimble by 1,387.6% during the 2nd 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 acquiring an additional 3,589,249 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Trimble by 7.0% in the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock valued at $203,976,000 after acquiring an additional 239,673 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Trimble Price Performance

Shares of TRMB opened at $61.65 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The stock has a market cap of $15.06 billion, a PE ratio of 64.22, a PEG ratio of 2.63 and a beta of 1.48. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The business has a 50-day simple moving average of $55.57 and a two-hundred day simple moving average of $57.29.

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, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Analysts anticipate that Trimble Inc. will post 2.23 earnings per share 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.