Main Street Financial Solutions LLC Purchases 5,433 Shares of Trimble Inc. (NASDAQ:TRMB)

Main Street Financial Solutions LLC grew its position in Trimble Inc. (NASDAQ:TRMB) by 100.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,857 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,433 shares during the period. Main Street Financial Solutions LLC’s holdings in Trimble were worth $607,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in 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 worth $19,057,000 after purchasing an additional 60,409 shares during the last quarter. Contour Asset Management LLC raised its position in shares of Trimble by 14.6% in the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after acquiring an additional 442,131 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Trimble by 484.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after acquiring an additional 75,182 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after acquiring an additional 126,472 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Trimble by 11.6% in the 4th quarter. Hsbc Holdings PLC now owns 407,332 shares of the scientific and technical instruments company’s stock worth $21,691,000 after acquiring an additional 42,432 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TRMB. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Thursday. Robert W. Baird lifted their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.33.

Trimble Stock Performance

Shares of TRMB opened at $56.50 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The stock has a 50-day moving average of $55.08 and a 200-day moving average of $57.58. The company has a market cap of $13.80 billion, a PE ratio of 58.85, a P/E/G ratio of 2.47 and a beta of 1.48. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55.

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

About Trimble

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.