Principal Financial Group Inc. Has $18.49 Million Holdings in Trimble Inc. (NASDAQ:TRMB)

Principal Financial Group Inc. boosted its holdings in Trimble Inc. (NASDAQ:TRMB) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 330,558 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,658 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Trimble worth $18,485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TRMB. Truist Financial Corp boosted its stake in shares of Trimble by 56.7% in the fourth quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after buying an additional 14,074 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Trimble by 25.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock valued at $19,057,000 after acquiring an additional 60,409 shares in the last quarter. Jump Financial LLC lifted its position in shares of Trimble by 80.9% during 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 acquiring an additional 17,979 shares during the period. Contour Asset Management LLC grew its holdings in shares of Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after purchasing an additional 442,131 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Trimble by 484.3% in the first quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after purchasing an additional 75,182 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

Trimble stock opened at $54.94 on Wednesday. The stock has a 50-day moving average price of $55.15 and a two-hundred day moving average price of $57.85. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a market capitalization of $13.42 billion, a PE ratio of 57.23, a P/E/G ratio of 2.55 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter last year, the business earned $0.51 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. Analysts expect that Trimble Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on TRMB. Oppenheimer reissued an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird boosted their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Finally, StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.33.

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.