Procyon Advisors LLC Has $572,000 Position in Trimble Inc. (NASDAQ:TRMB)

Procyon Advisors LLC increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 41.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,213 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,722 shares during the quarter. Procyon Advisors LLC’s holdings in Trimble were worth $572,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Compagnie Lombard Odier SCmA grew its holdings in Trimble by 34.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 197,134 shares of the scientific and technical instruments company’s stock valued at $12,240,000 after buying an additional 50,154 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Trimble by 34.1% in the 3rd quarter. Sound Income Strategies LLC now owns 2,320 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 590 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Trimble by 530.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,734 shares of the scientific and technical instruments company’s stock valued at $170,000 after buying an additional 2,300 shares in the last quarter. Beaumont Financial Advisors LLC acquired a new position in Trimble in the 3rd quarter valued at $212,000. Finally, Capital Insight Partners LLC grew its holdings in Trimble by 4.0% in the 3rd quarter. Capital Insight Partners LLC now owns 7,295 shares of the scientific and technical instruments company’s stock valued at $453,000 after buying an additional 280 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of TRMB stock opened at $61.72 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company has a market cap of $15.07 billion, a P/E ratio of 64.29, a P/E/G ratio of 2.77 and a beta of 1.49. The business has a fifty day simple moving average of $57.47 and a 200 day simple moving average of $57.16.

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

Analysts Set New Price Targets

A number of brokerages have commented on TRMB. JPMorgan Chase & Co. upped their price objective on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report 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 upped their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

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.