OFI Invest Asset Management Boosts Holdings in Trimble Inc. (NASDAQ:TRMB)

OFI Invest Asset Management raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,780 shares of the scientific and technical instruments company’s stock after buying an additional 315 shares during the period. OFI Invest Asset Management’s holdings in Trimble were worth $771,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp grew its stake in shares of Trimble by 56.7% during the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after acquiring an additional 14,074 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Trimble by 25.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock valued at $19,057,000 after buying an additional 60,409 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in Trimble by 51.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock worth $2,185,000 after buying an additional 13,899 shares in the last quarter. Jump Financial LLC raised its holdings in Trimble by 80.9% during the fourth quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after acquiring an additional 17,979 shares during the period. Finally, Contour Asset Management LLC lifted its position in shares of Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after acquiring an additional 442,131 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

Shares of TRMB stock traded up $0.33 on Friday, reaching $54.37. 840,093 shares of the company were exchanged, compared to its average volume of 1,584,368. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 56.64, a P/E/G ratio of 2.39 and a beta of 1.50. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The business has a 50-day moving average price of $54.99 and a 200 day moving average price of $57.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same period in the previous year, the business posted $0.51 earnings per share. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts forecast that Trimble Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRMB. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James restated an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research report on Wednesday, May 15th. Piper Sandler lowered Trimble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.33.

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.