Oppenheimer & Co. Inc. Has $2.20 Million Position in Trimble Inc. (NASDAQ:TRMB)

Oppenheimer & Co. Inc. lifted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,288 shares of the scientific and technical instruments company’s stock after purchasing an additional 837 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Trimble were worth $2,197,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TRMB. Frazier Financial Advisors LLC acquired a new stake in Trimble in the 4th quarter valued at approximately $26,000. Tobam acquired a new stake in Trimble in the 1st quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC raised its position in Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. raised its position in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Trimble in the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Up 3.4 %

TRMB stock opened at $58.41 on Tuesday. 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 Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The business has a 50 day moving average price of $55.13 and a two-hundred day moving average price of $57.50. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 60.84, a P/E/G ratio of 2.50 and a beta of 1.48.

Trimble (NASDAQ:TRMB) last issued its earnings results 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. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Analysts anticipate that Trimble Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research report on Monday, August 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 restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. 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. Finally, StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Trimble has an average rating of “Moderate Buy” and an average price target of $65.33.

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.