Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Norris Perne & French LLP MI

Norris Perne & French LLP MI boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 65.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 428,605 shares of the scientific and technical instruments company’s stock after purchasing an additional 169,117 shares during the period. Trimble comprises approximately 1.8% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 15th biggest holding. Norris Perne & French LLP MI owned approximately 0.18% of Trimble worth $26,612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRMB. Wealth Enhancement Advisory Services LLC raised its position in shares of Trimble by 18.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,942 shares of the scientific and technical instruments company’s stock worth $511,000 after acquiring an additional 1,251 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Trimble in the first quarter worth about $248,000. BNP Paribas Financial Markets raised its position in shares of Trimble by 6.8% in the first quarter. BNP Paribas Financial Markets now owns 243,939 shares of the scientific and technical instruments company’s stock worth $15,700,000 after acquiring an additional 15,610 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Trimble by 31.3% in the first quarter. Janney Montgomery Scott LLC now owns 19,135 shares of the scientific and technical instruments company’s stock worth $1,232,000 after acquiring an additional 4,563 shares during the period. Finally, Hunter Associates Investment Management LLC raised its position in shares of Trimble by 13.3% in the first quarter. Hunter Associates Investment Management LLC now owns 46,419 shares of the scientific and technical instruments company’s stock worth $2,985,000 after acquiring an additional 5,431 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several research reports. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. Robert W. Baird increased their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Performance

Trimble stock opened at $60.50 on Friday. The firm has a 50 day simple moving average of $59.13 and a 200-day simple moving average of $57.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate 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 prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, analysts expect that Trimble Inc. will post 2.23 EPS for the current 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.