Argent Trust Co Raises Holdings in Trimble Inc. (NASDAQ:TRMB)

Argent Trust Co raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 97.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,284 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,100 shares during the period. Argent Trust Co’s holdings in Trimble were worth $351,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Generation Investment Management LLP raised its holdings in Trimble by 89.5% in the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after buying an additional 5,796,030 shares during the period. Victory Capital Management Inc. increased its position in shares of Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares in the last quarter. Norges Bank purchased a new position in shares of Trimble in the 4th quarter valued at $132,319,000. Lazard Asset Management LLC lifted its holdings in shares of Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after acquiring an additional 516,789 shares in the last quarter. Finally, Contour Asset Management LLC boosted its position in Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after purchasing an additional 442,131 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird boosted their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. Finally, Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Stock Down 2.7 %

TRMB stock opened at $58.57 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $55.32 and a 200-day simple moving average of $57.50. The company has a market capitalization of $14.30 billion, a P/E ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55.

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. The company had revenue of $870.80 million during 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 firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. On average, equities research analysts predict that Trimble Inc. will post 2.22 earnings per share for the current fiscal 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.