Lombard Odier Asset Management Europe Ltd Makes New $219,000 Investment in Trimble Inc. (NASDAQ:TRMB)

Lombard Odier Asset Management Europe Ltd bought a new position in Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,908 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after purchasing an additional 273,863 shares during the last quarter. Generation Investment Management LLP increased its stake in shares of Trimble by 89.5% during 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. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Trimble by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after acquiring an additional 126,472 shares in the last quarter. Victory Capital Management Inc. lifted its stake in 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 during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Trimble by 7.0% in the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after acquiring an additional 239,673 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Performance

Trimble stock opened at $58.57 on Tuesday. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The business’s fifty day simple moving average is $55.37 and its two-hundred day simple moving average is $57.38. 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 released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same period last year, the business earned $0.51 EPS. Trimble’s revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts predict that Trimble Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TRMB. JPMorgan Chase & Co. raised their target price on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird lifted 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 reissued an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

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.