Global Strategic Investment Solutions LLC Buys Shares of 3,812 Trimble Inc. (NASDAQ:TRMB)

Global Strategic Investment Solutions LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,812 shares of the scientific and technical instruments company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TRMB. Victory Capital Management Inc. increased its position in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares during the period. AQR Capital Management LLC increased its holdings in Trimble by 2,035.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after purchasing an additional 1,093,275 shares during the period. Lazard Asset Management LLC raised its position in Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares in the last quarter. Impax Asset Management Group plc raised its position in Trimble by 18.7% in the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after purchasing an additional 434,065 shares in the last quarter. Finally, Capital Group Private Client Services Inc. boosted its stake in shares of Trimble by 77.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after buying an additional 390,171 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

NASDAQ:TRMB traded down $0.63 during mid-day trading on Thursday, reaching $72.01. 260,017 shares of the stock were exchanged, compared to its average volume of 1,341,608. The stock has a market capitalization of $17.59 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.75 and a beta of 1.49. Trimble Inc. has a 1 year low of $40.79 and a 1 year high of $73.17. The company has a 50 day simple moving average of $59.82 and a 200-day simple moving average of $57.29. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last announced 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. The business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. raised their target price on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Robert W. Baird boosted their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Piper Sandler upped their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Oppenheimer reissued an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.60.

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.