Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Argent Trust Co

Argent Trust Co increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 97.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,284 shares of the scientific and technical instruments company’s stock after buying an additional 3,100 shares during the period. Argent Trust Co’s holdings in Trimble were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new stake in shares of Trimble during the 2nd quarter worth approximately $331,000. Dimensional Fund Advisors LP increased its position in Trimble by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after buying an additional 361,421 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Trimble in the second quarter valued at $52,000. Wilkins Investment Counsel Inc. boosted its holdings in shares of Trimble by 1.5% during the second quarter. Wilkins Investment Counsel Inc. now owns 97,450 shares of the scientific and technical instruments company’s stock valued at $5,449,000 after acquiring an additional 1,400 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Trimble by 6.5% during the second quarter. Envestnet Asset Management Inc. now owns 228,235 shares of the scientific and technical instruments company’s stock worth $12,763,000 after acquiring an additional 13,845 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

TRMB opened at $58.57 on Friday. The business has a 50 day moving average price of $55.32 and a two-hundred day moving average price of $57.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating 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 business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. Research analysts predict that Trimble Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a 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 note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Company 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.