Inspire Advisors LLC Increases Stake in Trimble Inc. (NASDAQ:TRMB)

Inspire Advisors LLC grew its position in shares of Trimble Inc. (NASDAQ:TRMB) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,500 shares of the scientific and technical instruments company’s stock after buying an additional 690 shares during the quarter. Inspire Advisors LLC’s holdings in Trimble were worth $590,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TRMB. Victory Capital Management Inc. raised its position 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 buying an additional 3,589,249 shares during the last quarter. AQR Capital Management LLC raised its position 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 buying an additional 1,093,275 shares during the last quarter. Lazard Asset Management LLC raised its position in Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after buying an additional 516,789 shares during the last quarter. Capital Group Private Client Services Inc. increased its holdings 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 purchasing an additional 390,171 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Trimble by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after purchasing an additional 361,421 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRMB. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. 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 report on Thursday, September 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. 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 report on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Performance

NASDAQ:TRMB opened at $61.77 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $58.08 and a two-hundred day moving average price of $57.21. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company has a market capitalization of $15.08 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 2.83 and a beta of 1.49.

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 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 during the quarter, compared to the consensus estimate of $862.50 million. During the same period last year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, research analysts expect that Trimble Inc. will post 2.23 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.