Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its holdings in Trimble Inc. (NASDAQ:TRMB) by 5.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,879 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,200 shares during the quarter. Truist Financial Corp’s holdings in Trimble were worth $2,454,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in shares of Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after purchasing an additional 3,589,249 shares during the last quarter. AQR Capital Management LLC grew its holdings in Trimble by 2,035.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after buying an additional 1,093,275 shares during the last quarter. Lazard Asset Management LLC increased its position in Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after buying an additional 516,789 shares in the last quarter. Contour Asset Management LLC raised its holdings in shares of Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after acquiring an additional 442,131 shares during the last quarter. Finally, Capital Group Private Client Services Inc. lifted its position in shares of Trimble by 77.8% in the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after acquiring an additional 390,171 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Trimble Price Performance

TRMB opened at $61.74 on Friday. 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 company’s 50-day moving average price is $56.76 and its 200 day moving average price is $57.28. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 64.31, a price-to-earnings-growth ratio of 2.79 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last released its quarterly 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. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. As a group, sell-side analysts expect that Trimble Inc. will post 2.23 earnings per share for the current year.

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.