Moore Capital Management LP Has $13.92 Million Stake in Trimble Inc. (NASDAQ:TRMB)

Moore Capital Management LP raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 32.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,962 shares of the scientific and technical instruments company’s stock after purchasing an additional 48,494 shares during the quarter. Moore Capital Management LP’s holdings in Trimble were worth $13,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. bought a new stake in shares of Trimble during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in Trimble in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. acquired a new position in Trimble in the 4th quarter valued at $36,000. Larson Financial Group LLC increased its position in Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 422 shares during the period. Finally, Friedenthal Financial acquired a new stake in Trimble in the 4th quarter worth about $49,000. 93.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Trimble

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

Trimble Price Performance

TRMB stock opened at $68.12 on Monday. The company has a market capitalization of $16.25 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The business has a 50-day simple moving average of $63.87 and a two-hundred day simple moving average of $69.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same quarter last year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Oppenheimer boosted their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Thursday, February 20th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Thursday. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $86.00.

Trimble Company 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.