Assenagon Asset Management S.A. Has $53.56 Million Position in Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 338.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 815,909 shares of the scientific and technical instruments company’s stock after purchasing an additional 629,960 shares during the period. Assenagon Asset Management S.A.’s holdings in Trimble were worth $53,564,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Trimble by 5.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company’s stock valued at $26,560,000 after acquiring an additional 17,785 shares during the period. Wellington Management Group LLP boosted its holdings in Trimble by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company’s stock valued at $1,580,000 after purchasing an additional 5,472 shares during the period. Atria Investments Inc grew its position in Trimble by 15.4% in the 4th quarter. Atria Investments Inc now owns 4,022 shares of the scientific and technical instruments company’s stock worth $284,000 after purchasing an additional 537 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Trimble by 34.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 38,534 shares of the scientific and technical instruments company’s stock worth $2,686,000 after purchasing an additional 9,813 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Trimble by 17.9% during the 4th quarter. HighTower Advisors LLC now owns 47,216 shares of the scientific and technical instruments company’s stock worth $3,336,000 after purchasing an additional 7,152 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Buying and Selling at Trimble

In other news, Director Kaigham Gabriel sold 6,511 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director now owns 17,939 shares of the company’s stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TRMB. JPMorgan Chase & Co. lifted their target price on Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Oppenheimer raised their price objective on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a research report on Thursday, February 20th. Piper Sandler restated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $88.43.

Trimble Stock Down 0.4%

NASDAQ TRMB opened at $72.54 on Thursday. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 3.09 and a beta of 1.68. The stock’s 50 day moving average is $65.65 and its two-hundred day moving average is $69.68. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

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 return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same quarter last year, the company earned $0.64 EPS. Trimble’s revenue was down 11.8% on a year-over-year basis. Equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

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.