GAMMA Investing LLC Increases Stake in Trimble Inc. (NASDAQ:TRMB)

GAMMA Investing LLC lifted its stake in Trimble Inc. (NASDAQ:TRMB) by 19.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,212 shares of the scientific and technical instruments company’s stock after acquiring an additional 354 shares during the period. GAMMA Investing LLC’s holdings in Trimble were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Frazier Financial Advisors LLC purchased a new position in Trimble during the 4th quarter worth approximately $26,000. Tobam acquired a new stake in shares of Trimble during the 1st quarter worth approximately $35,000. Principal Securities Inc. acquired a new stake in shares of Trimble during the 4th quarter worth approximately $52,000. Sound Income Strategies LLC grew its stake in shares of Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Trimble during the 4th quarter worth approximately $67,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James reissued an “outperform” rating and issued a $65.00 price target on shares of Trimble in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Trimble Price Performance

Trimble stock opened at $51.53 on Wednesday. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00. The company’s fifty day moving average price is $55.39 and its 200 day moving average price is $57.63. The stock has a market capitalization of $12.58 billion, a P/E ratio of 53.68, a P/E/G ratio of 2.31 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last released its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Trimble Inc. will post 2.21 earnings per share for the current fiscal year.

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.