Louisiana State Employees Retirement System Buys New Position in Trimble Inc. (NASDAQ:TRMB)

Louisiana State Employees Retirement System bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,000 shares of the scientific and technical instruments company’s stock, valued at approximately $798,000.

A number of other hedge funds also recently modified their holdings of TRMB. Morgan Stanley raised its holdings in shares of Trimble by 10.0% in the 3rd quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock worth $412,285,000 after buying an additional 694,842 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Trimble by 2,399.7% in the 3rd quarter. Wellington Management Group LLP now owns 425,330 shares of the scientific and technical instruments company’s stock worth $22,908,000 after purchasing an additional 408,315 shares during the last quarter. Invesco Ltd. lifted its holdings in Trimble by 5.7% during the third quarter. Invesco Ltd. now owns 3,515,579 shares of the scientific and technical instruments company’s stock worth $189,349,000 after acquiring an additional 189,902 shares in the last quarter. Barclays PLC lifted its holdings in Trimble by 43.6% during the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after acquiring an additional 176,139 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Trimble by 139.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 301,721 shares of the scientific and technical instruments company’s stock worth $15,767,000 after acquiring an additional 175,834 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TRMB. Oppenheimer lifted their price target on Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Robert W. Baird upped their price target on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.83.

Trimble Trading Up 1.6 %

NASDAQ:TRMB opened at $60.15 on Friday. The firm has a 50-day moving average price of $61.72 and a two-hundred day moving average price of $53.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 48.12, a price-to-earnings-growth ratio of 2.67 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Transactions at Trimble

In related news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the transaction, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now directly owns 187,055 shares of the company’s stock, valued at $11,771,371.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,828 shares of company stock valued at $1,013,519. Insiders own 0.47% of the company’s stock.

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.