Trimble Inc. (NASDAQ:TRMB) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 214,295 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,652 shares during the period. Gotham Asset Management LLC’s holdings in Trimble were worth $15,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fred Alger Management LLC raised its stake in shares of Trimble by 317.4% during the 4th quarter. Fred Alger Management LLC now owns 24,717 shares of the scientific and technical instruments company’s stock worth $1,747,000 after buying an additional 18,796 shares during the last quarter. Deutsche Bank AG raised its position in Trimble by 12.0% during the fourth quarter. Deutsche Bank AG now owns 1,670,116 shares of the scientific and technical instruments company’s stock worth $118,010,000 after acquiring an additional 179,103 shares during the last quarter. Contour Asset Management LLC lifted its holdings in shares of Trimble by 4.4% in the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company’s stock valued at $330,772,000 after purchasing an additional 197,913 shares in the last quarter. Crestline Management LP grew its position in shares of Trimble by 643.6% in the fourth quarter. Crestline Management LP now owns 67,002 shares of the scientific and technical instruments company’s stock valued at $4,734,000 after purchasing an additional 57,992 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Trimble by 8.5% during the 4th quarter. Cetera Investment Advisers now owns 14,290 shares of the scientific and technical instruments company’s stock worth $1,010,000 after purchasing an additional 1,119 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRMB. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Thursday. Oppenheimer raised their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Thursday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Trimble has an average rating of “Buy” and an average target price of $86.00.

Insider Buying and Selling

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Trimble Stock Up 1.1 %

Shares of TRMB opened at $68.12 on Friday. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company’s fifty day moving average is $63.87 and its two-hundred day moving average is $69.04. The firm has a market cap of $16.25 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last issued its 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. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. Analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

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.