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Cresset Asset Management LLC boosted its position in Trimble Inc. (NASDAQ:TRMB – Free Report) by 14.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 12,921 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,642 shares during the period. Cresset Asset Management LLC’s holdings in Trimble were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of TRMB. Brighton Jones LLC purchased a new stake in Trimble in the fourth quarter worth $211,000. Mariner LLC increased its position in Trimble by 4.5% in the fourth quarter. Mariner LLC now owns 15,128 shares of the scientific and technical instruments company’s stock worth $1,069,000 after buying an additional 652 shares during the last quarter. NewEdge Advisors LLC increased its position in Trimble by 39.6% in the fourth quarter. NewEdge Advisors LLC now owns 6,904 shares of the scientific and technical instruments company’s stock worth $488,000 after buying an additional 1,957 shares during the last quarter. First Trust Advisors LP grew its position in shares of Trimble by 39.8% in the fourth quarter. First Trust Advisors LP now owns 70,107 shares of the scientific and technical instruments company’s stock valued at $4,954,000 after purchasing an additional 19,976 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Trimble by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 64,621 shares of the scientific and technical instruments company’s stock valued at $4,566,000 after purchasing an additional 1,136 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Trimble news, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company’s stock, valued at $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the sale, the vice president directly owned 2,882 shares of the company’s stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,383 shares of company stock valued at $18,529,318 over the last 90 days. Insiders own 0.54% of the company’s stock.
Trimble Trading Up 2.9%
Shares of TRMB stock opened at $82.58 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $80.02 and a two-hundred day moving average price of $72.00. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The firm has a market cap of $19.65 billion, a P/E ratio of 71.19, a price-to-earnings-growth ratio of 3.29 and a beta of 1.69.
Trimble (NASDAQ:TRMB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on Trimble from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Piper Sandler reissued an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Raymond James Financial reissued an “outperform” rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Oppenheimer lifted their price objective on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, Trimble has a consensus rating of “Buy” and a consensus target price of $90.50.
View Our Latest Stock Analysis on Trimble
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.
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