Blue Trust Inc. Acquires 313 Shares of Trimble Inc. (NASDAQ:TRMB)

Blue Trust Inc. boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 96.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 639 shares of the scientific and technical instruments company’s stock after acquiring an additional 313 shares during the quarter. Blue Trust Inc.’s holdings in Trimble were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRMB. First Horizon Advisors Inc. raised its holdings in Trimble by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after buying an additional 196 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Trimble by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after acquiring an additional 199 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Trimble by 6.8% in the 4th quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock worth $167,000 after acquiring an additional 200 shares during the last quarter. Czech National Bank boosted its stake in shares of Trimble by 0.5% during the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock worth $2,817,000 after purchasing an additional 201 shares during the period. Finally, SVB Wealth LLC grew its holdings in Trimble by 4.8% during the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after purchasing an additional 204 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRMB has been the subject of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler reissued 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. decreased their price objective 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, Robert W. Baird boosted their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.33.

Trimble Stock Up 1.7 %

NASDAQ:TRMB opened at $56.99 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The company has a 50-day moving average of $55.03 and a 200 day moving average of $57.73. The firm has a market cap of $13.92 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50.

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 the consensus estimate of $0.58 by $0.04. The firm had revenue of $870.80 million during 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 company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. As a group, research analysts anticipate that Trimble Inc. will post 2.22 EPS 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.