Brookstone Capital Management Acquires New Shares in Trimble Inc. (NASDAQ:TRMB)

Brookstone Capital Management bought a new position in Trimble Inc. (NASDAQ:TRMB) during the first quarter, Holdings Channel.com reports. The institutional investor bought 5,193 shares of the scientific and technical instruments company’s stock, valued at approximately $334,000.

A number of other institutional investors have also added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC bought a new position in Trimble in the 4th quarter worth about $26,000. Principal Securities Inc. bought a new position in Trimble in the 4th quarter worth about $52,000. Sound Income Strategies LLC increased its stake in Trimble by 171.9% in the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after acquiring an additional 631 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in Trimble in the 4th quarter worth about $67,000. Finally, First Horizon Advisors Inc. increased its stake in Trimble by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock worth $68,000 after acquiring an additional 196 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now directly owns 183,555 shares in the company, valued at approximately $11,472,187.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Trimble news, SVP Peter Large sold 1,447 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now owns 8,220 shares in the company, valued at approximately $485,802. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The disclosure for this sale can be found here. Insiders sold 5,182 shares of company stock worth $318,636 in the last ninety days. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRMB. Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Raymond James reiterated an “outperform” rating and issued a $65.00 price objective on shares of Trimble in a report on Wednesday, May 15th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Trading Down 0.4 %

Shares of TRMB stock opened at $55.69 on Tuesday. The stock has a market capitalization of $13.60 billion, a PE ratio of 58.01, a P/E/G ratio of 2.54 and a beta of 1.50. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The business has a 50-day moving average of $56.64 and a 200 day moving average of $56.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88.

Trimble (NASDAQ:TRMB) last issued its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $953.30 million during the quarter, compared to analysts’ expectations of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.21 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.