Inspire Advisors LLC Purchases 1,412 Shares of Trimble Inc. (NASDAQ:TRMB)

Inspire Advisors LLC lifted its position in shares of Trimble Inc. (NASDAQ:TRMB) by 17.0% in the first quarter, HoldingsChannel.com reports. The fund owned 9,722 shares of the scientific and technical instruments company’s stock after buying an additional 1,412 shares during the period. Inspire Advisors LLC’s holdings in Trimble were worth $626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in shares of Trimble by 56.7% during the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock worth $2,069,000 after acquiring an additional 14,074 shares during the period. Hunter Associates Investment Management LLC lifted its stake in Trimble by 51.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after purchasing an additional 13,899 shares during the last quarter. Jump Financial LLC lifted its stake in Trimble by 80.9% in the 4th quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after purchasing an additional 17,979 shares during the last quarter. Contour Asset Management LLC lifted its stake in Trimble by 14.6% in the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after purchasing an additional 442,131 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Trimble by 2.4% in the 1st 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 purchasing an additional 126,472 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 1.6 %

NASDAQ TRMB traded up $0.89 on Tuesday, hitting $58.18. The company’s stock had a trading volume of 226,728 shares, compared to its average volume of 1,363,675. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The company’s 50-day moving average is $56.06 and its 200 day moving average is $57.20. The firm has a market cap of $14.21 billion, a PE ratio of 59.68, a PEG ratio of 2.60 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The firm had revenue of $953.30 million during the quarter, compared to analysts’ expectations of $921.15 million. As a group, analysts predict that Trimble Inc. will post 2.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on TRMB shares. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James restated an “outperform” rating and issued a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Company 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.