Cadent Capital Advisors LLC Purchases 1,613 Shares of Trimble Inc. (NASDAQ:TRMB)

Cadent Capital Advisors LLC boosted its position in Trimble Inc. (NASDAQ:TRMB) by 37.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,942 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,613 shares during the quarter. Cadent Capital Advisors LLC’s holdings in Trimble were worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tobam bought a new position in shares of Trimble in the 1st quarter worth about $35,000. GPS Wealth Strategies Group LLC increased its stake in shares of Trimble by 303.2% during the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble in the 2nd quarter worth approximately $48,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Trimble in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of TRMB stock opened at $61.77 on Friday. The firm has a market capitalization of $15.08 billion, a PE ratio of 64.34, a P/E/G ratio of 2.83 and a beta of 1.49. The company has a 50 day moving average price of $58.08 and a 200-day moving average price of $57.17. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. 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 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, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $870.80 million for 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 revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. As a group, equities research analysts expect that Trimble Inc. will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on TRMB. JPMorgan Chase & Co. boosted their target price on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Finally, Robert W. Baird upped their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average target price of $66.67.

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.