Lifestyle Asset Management Inc. Takes $1.05 Million Position in Trimble Inc. (NASDAQ:TRMB)

Lifestyle Asset Management Inc. bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 16,835 shares of the scientific and technical instruments company’s stock, valued at approximately $1,045,000.

Several other hedge funds also recently added to or reduced their stakes in TRMB. GPS Wealth Strategies Group LLC lifted 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 worth $36,000 after buying an additional 479 shares during the period. Blue Trust Inc. boosted its holdings in shares of Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trimble in the second quarter worth $48,000. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble during the third quarter worth $49,000. Finally, Cromwell Holdings LLC lifted its position in Trimble by 86.6% during the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRMB. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird upped 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. Piper Sandler lifted their target price on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.20.

Trimble Price Performance

NASDAQ:TRMB opened at $72.14 on Friday. The stock has a 50 day moving average of $60.14 and a two-hundred day moving average of $57.39. Trimble Inc. has a 12 month low of $40.79 and a 12 month high of $73.17. The firm has a market cap of $17.62 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The firm had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. On average, analysts expect that Trimble Inc. will post 2.25 earnings per share 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.