Argentarii LLC Invests $334,000 in Trimble Inc. (NASDAQ:TRMB)

Argentarii LLC acquired a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,086 shares of the scientific and technical instruments company’s stock, valued at approximately $334,000.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Trimble in the 4th quarter worth approximately $190,391,000. Boston Partners boosted its stake in Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock valued at $239,802,000 after purchasing an additional 2,312,937 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock valued at $717,506,000 after purchasing an additional 1,857,517 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Trimble by 338.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company’s stock worth $53,564,000 after buying an additional 629,960 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Trimble by 69.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company’s stock valued at $89,837,000 after buying an additional 520,980 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Trading Up 1.2%

Trimble stock opened at $78.82 on Friday. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $78.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 3.36 and a beta of 1.67. The company has a 50 day moving average price of $70.97 and a 200 day moving average price of $69.73.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The business had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. Trimble’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director directly owned 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $88.43.

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.