Essex Investment Management Co. LLC Sells 536 Shares of Trimble Inc. (NASDAQ:TRMB)

Essex Investment Management Co. LLC reduced its position in shares of Trimble Inc. (NASDAQ:TRMB) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,405 shares of the scientific and technical instruments company’s stock after selling 536 shares during the period. Essex Investment Management Co. LLC’s holdings in Trimble were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Trimble by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after purchasing an additional 273,863 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Trimble by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after acquiring an additional 126,472 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Trimble by 1,387.6% during the 2nd 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. Thrivent Financial for Lutherans raised its position in shares of Trimble by 7.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after acquiring an additional 239,673 shares in the last quarter. Finally, FIL Ltd lifted its stake in shares of Trimble by 5.2% in the 4th quarter. FIL Ltd now owns 3,588,699 shares of the scientific and technical instruments company’s stock valued at $190,919,000 after purchasing an additional 178,375 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Up 2.1 %

Shares of TRMB traded up $1.27 on Friday, reaching $63.01. The company’s stock had a trading volume of 1,436,370 shares, compared to its average volume of 1,507,342. The stock has a market capitalization of $15.39 billion, a PE ratio of 10.30, a PEG ratio of 2.77 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The firm has a fifty day moving average of $57.00 and a 200-day moving average of $57.23.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts predict that Trimble Inc. will post 2.23 EPS for the current year.

Wall Street Analysts Forecast Growth

TRMB has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Robert W. Baird increased 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. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average price target of $66.67.

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.