Pallas Capital Advisors LLC Buys 748 Shares of Trimble Inc. (NASDAQ:TRMB)

Pallas Capital Advisors LLC raised its stake in Trimble Inc. (NASDAQ:TRMB) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,192 shares of the scientific and technical instruments company’s stock after acquiring an additional 748 shares during the period. Pallas Capital Advisors LLC’s holdings in Trimble were worth $436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam purchased a new position in shares of Trimble in the first quarter valued at $35,000. GPS Wealth Strategies Group LLC grew its stake 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 worth $36,000 after buying an additional 479 shares in the last quarter. Blue Trust Inc. increased its holdings 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 buying an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Trimble in the 2nd quarter valued at about $48,000. Finally, Cromwell Holdings LLC grew its position 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 worth $50,000 after acquiring an additional 375 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

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

Trimble Trading Down 1.4 %

NASDAQ TRMB opened at $60.50 on Friday. The stock has a market cap of $14.77 billion, a PE ratio of 9.89, a PEG ratio of 2.73 and a beta of 1.49. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company’s 50-day moving average price is $59.13 and its 200-day moving average price is $57.12. 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 earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. Equities research analysts forecast that Trimble Inc. will post 2.23 earnings per share for the current year.

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.