Raymond James & Associates Grows Position in Trimble Inc. (NASDAQ:TRMB)

Raymond James & Associates raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 27.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,488 shares of the scientific and technical instruments company’s stock after buying an additional 35,841 shares during the quarter. Raymond James & Associates’ holdings in Trimble were worth $9,198,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Trimble in the 4th quarter valued at approximately $80,000. Atria Wealth Solutions Inc. lifted its stake in shares of Trimble by 16.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 5,056 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 697 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Trimble by 3.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,027 shares of the scientific and technical instruments company’s stock valued at $374,000 after purchasing an additional 243 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new stake in shares of Trimble in the 4th quarter valued at approximately $261,000. Finally, Truist Financial Corp lifted its stake in shares of Trimble by 56.7% in the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after purchasing an additional 14,074 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Raymond James reissued an “outperform” rating and set a $65.00 price target on shares of Trimble in a research note on Wednesday, May 15th. JPMorgan Chase & Co. decreased their price target on Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird raised their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.33.

Trimble Trading Up 1.7 %

TRMB opened at $56.99 on Monday. The stock’s fifty day moving average is $55.07 and its two-hundred day moving average is $57.85. The company has a market capitalization of $13.92 billion, a P/E ratio of 59.36, a PEG ratio of 2.52 and a beta of 1.50. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million for 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%. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. Analysts forecast that Trimble Inc. will post 2.22 earnings per share for the current year.

About Trimble

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.