Millennium Management LLC Has $17.74 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Millennium Management LLC raised its stake in Trimble Inc. (NASDAQ:TRMB) by 291.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 317,202 shares of the scientific and technical instruments company’s stock after acquiring an additional 236,269 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Trimble worth $17,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fulton Bank N.A. lifted its position in shares of Trimble by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after purchasing an additional 199 shares during the period. Czech National Bank boosted its position in shares of Trimble by 0.5% during the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after purchasing an additional 201 shares in the last quarter. SVB Wealth LLC grew its stake in Trimble by 4.8% during the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after purchasing an additional 204 shares during the period. Profund Advisors LLC grew its position in shares of Trimble by 4.6% during the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock worth $276,000 after buying an additional 219 shares during the period. Finally, Caprock Group LLC boosted its stake in Trimble by 1.9% during the first quarter. Caprock Group LLC now owns 12,584 shares of the scientific and technical instruments company’s stock worth $810,000 after acquiring an additional 233 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRMB. Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird increased their target price on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Performance

Shares of TRMB opened at $62.14 on Friday. The stock’s 50-day simple moving average is $56.14 and its 200 day simple moving average is $57.34. The stock has a market capitalization of $15.18 billion, a price-to-earnings ratio of 64.73, a price-to-earnings-growth ratio of 2.80 and a beta of 1.49. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. Research analysts forecast that Trimble Inc. will post 2.23 EPS 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.