Trimble Inc. (NASDAQ:TRMB) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in Trimble Inc. (NASDAQ:TRMB) by 102.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,586 shares of the scientific and technical instruments company’s stock after acquiring an additional 21,088 shares during the period. Mackenzie Financial Corp’s holdings in Trimble were worth $2,325,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TRMB. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Trimble by 25.6% during the 1st 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 acquiring an additional 60,409 shares during the period. Contour Asset Management LLC boosted its holdings in shares of Trimble by 14.6% during 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 during the period. Illinois Municipal Retirement Fund grew its position in Trimble by 484.3% during the first quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock valued at $5,838,000 after purchasing an additional 75,182 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in 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. Finally, CANADA LIFE ASSURANCE Co lifted its position in Trimble by 11.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after buying an additional 24,938 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Trimble Stock Up 2.8 %

Shares of Trimble stock opened at $62.48 on Thursday. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The stock has a market capitalization of $15.26 billion, a P/E ratio of 65.08, a PEG ratio of 2.77 and a beta of 1.48. 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 50 day moving average price of $55.74 and a two-hundred day moving average price of $57.28.

Trimble (NASDAQ:TRMB) last posted 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. The business had revenue of $870.80 million for 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%. Trimble’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Equities analysts expect that Trimble Inc. will post 2.23 earnings per share for the current 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.