Amalgamated Bank Sells 1,912 Shares of Trimble Inc. (NASDAQ:TRMB)

Amalgamated Bank trimmed its position in Trimble Inc. (NASDAQ:TRMB) by 3.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 49,895 shares of the scientific and technical instruments company’s stock after selling 1,912 shares during the quarter. Amalgamated Bank’s holdings in Trimble were worth $2,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TRMB. Tobam purchased a new position in Trimble during the 1st quarter worth $35,000. GPS Wealth Strategies Group LLC grew its stake in shares of Trimble by 303.2% during the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble in the 2nd quarter valued at approximately $48,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Trimble in the 2nd quarter worth approximately $52,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Performance

Shares of TRMB stock opened at $58.57 on Tuesday. 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. The stock has a market cap of $14.30 billion, a PE ratio of 61.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The business has a 50-day simple moving average of $55.37 and a 200-day simple moving average of $57.38.

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 business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities analysts expect that Trimble Inc. will post 2.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on TRMB shares. Robert W. Baird raised their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

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.