abrdn plc Raises Holdings in Trimble Inc. (NASDAQ:TRMB)

abrdn plc increased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 556,235 shares of the scientific and technical instruments company’s stock after buying an additional 14,663 shares during the period. abrdn plc owned about 0.23% of Trimble worth $34,122,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TRMB. Tobam purchased a new stake in shares of Trimble in the 1st quarter worth approximately $35,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 479 shares during the period. Blue Trust Inc. raised its position in shares of Trimble by 96.0% in the 2nd 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 in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Trimble during the second quarter valued at about $48,000. Finally, Cromwell Holdings LLC grew its stake in Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TRMB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research report on Monday, August 19th. Robert W. Baird raised their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $61.36 on Thursday. 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 Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company’s 50 day moving average is $59.13 and its 200 day moving average is $57.12. The company has a market cap of $14.98 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 2.73 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last posted its earnings results 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. The company had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, sell-side analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

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.