Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 108,800 Trimble Inc. (NASDAQ:TRMB)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 108,800 shares of the scientific and technical instruments company’s stock, valued at approximately $6,084,000.

Other hedge funds have also bought and sold shares of the company. Tobam bought a new stake in Trimble during the first quarter valued at about $35,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Trimble by 303.2% in 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 acquiring an additional 479 shares during the period. Blue Trust Inc. boosted its stake in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 313 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Trimble in the second quarter worth about $48,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Trimble in the second quarter worth about $52,000. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TRMB shares. JPMorgan Chase & Co. upped their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Robert W. Baird boosted their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Trimble Price Performance

Shares of TRMB stock opened at $62.14 on Friday. The stock has a 50 day moving average price of $56.01 and a 200 day moving average price of $57.34. The firm has a market capitalization of $15.18 billion, a P/E ratio of 64.73, a P/E/G ratio of 2.80 and a beta of 1.49. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. As a group, sell-side analysts predict that Trimble Inc. will post 2.23 earnings per share for the current 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.