25,333 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 25,333 shares of the scientific and technical instruments company’s stock, valued at approximately $1,417,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRMB. Tobam bought a new position in shares of Trimble in the first quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC lifted its position in shares of Trimble by 303.2% during 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. grew its stake in shares of Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 313 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble in the second quarter worth about $48,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Trimble in the second quarter valued at approximately $52,000. 93.21% of the stock is owned by institutional investors.

Trimble Stock Up 1.0 %

TRMB stock opened at $59.12 on Thursday. The company’s 50 day moving average is $55.39 and its 200 day moving average is $57.36. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of 61.58, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts predict that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRMB. JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird lifted their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trimble has an average rating of “Moderate Buy” and a consensus 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.