Wealth Enhancement Advisory Services LLC Increases Position in Trimble Inc. (NASDAQ:TRMB)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Trimble Inc. (NASDAQ:TRMB) by 185.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,552 shares of the scientific and technical instruments company’s stock after purchasing an additional 19,850 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Trimble were worth $1,897,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tobam purchased a new stake in shares of Trimble in the 1st quarter worth about $35,000. GPS Wealth Strategies Group LLC boosted its holdings 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 valued at $36,000 after purchasing an additional 479 shares during the last quarter. Blue Trust Inc. grew its position in Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares during the period. Cromwell Holdings LLC grew its holdings in shares of Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 375 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Trimble during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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. JPMorgan Chase & Co. increased their price target on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird increased their target price on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Trimble has an average rating of “Moderate Buy” and a consensus price target of $68.40.

Trimble Trading Up 1.2 %

Shares of TRMB opened at $61.21 on Friday. Trimble Inc. has a one year low of $40.72 and a one year high of $65.55. The stock has a 50-day moving average price of $59.30 and a 200 day moving average price of $57.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The company has a market capitalization of $14.95 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.71 and a beta of 1.49.

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

About Trimble

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.