Quarry LP Boosts Stock Position in Trimble Inc. (NASDAQ:TRMB)

Quarry LP grew its position in shares of Trimble Inc. (NASDAQ:TRMB) by 4,988.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,239 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,195 shares during the quarter. Quarry LP’s holdings in Trimble were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Trimble by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after acquiring an additional 273,863 shares during the last quarter. Generation Investment Management LLP lifted its holdings in Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after buying an additional 5,796,030 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after buying an additional 126,472 shares during the period. Victory Capital Management Inc. raised its position in shares of Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Trimble by 7.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock valued at $203,976,000 after buying an additional 239,673 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Performance

Shares of TRMB stock opened at $60.79 on Wednesday. The business’s fifty day simple moving average is $55.74 and its 200-day simple moving average is $57.28. The company has a market cap of $14.85 billion, a PE ratio of 63.32, a PEG ratio of 2.77 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 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during 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 firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Analysts expect that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TRMB. Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note 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 set a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird boosted their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.67.

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.