Trimble Inc. (NASDAQ:TRMB) Shares Bought by No Street GP LP

No Street GP LP grew its holdings in Trimble Inc. (NASDAQ:TRMB) by 4.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 800,000 shares of the scientific and technical instruments company’s stock after buying an additional 37,500 shares during the quarter. Trimble makes up 3.7% of No Street GP LP’s holdings, making the stock its 11th biggest holding. No Street GP LP’s holdings in Trimble were worth $56,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Trimble by 7.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,818,478 shares of the scientific and technical instruments company’s stock worth $128,488,000 after buying an additional 122,623 shares in the last quarter. Moore Capital Management LP increased its stake in shares of Trimble by 32.7% in the 4th quarter. Moore Capital Management LP now owns 196,962 shares of the scientific and technical instruments company’s stock worth $13,917,000 after acquiring an additional 48,494 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Trimble by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 2,794,854 shares of the scientific and technical instruments company’s stock worth $197,483,000 after acquiring an additional 26,223 shares during the period. Gotham Asset Management LLC boosted its position in shares of Trimble by 4.7% during the 4th quarter. Gotham Asset Management LLC now owns 214,295 shares of the scientific and technical instruments company’s stock valued at $15,142,000 after acquiring an additional 9,652 shares during the last quarter. Finally, Fred Alger Management LLC boosted its position 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 valued at $1,747,000 after acquiring an additional 18,796 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Cfra upgraded 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. Oppenheimer lifted their target price on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $86.00.

Trimble Trading Up 1.0%

Shares of NASDAQ TRMB opened at $71.25 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $17.00 billion, a PE ratio of 11.70, a PEG ratio of 3.09 and a beta of 1.67. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock has a fifty day simple moving average of $63.96 and a 200-day simple moving average of $69.18.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $840.60 million during 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%. Trimble’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the 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. 0.47% of the stock is owned by company insiders.

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.