Royal Bank of Canada Has $29.77 Million Holdings in Trimble Inc. $TRMB

Royal Bank of Canada raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 25.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 456,329 shares of the scientific and technical instruments company’s stock after buying an additional 93,656 shares during the quarter. Royal Bank of Canada owned 0.20% of Trimble worth $29,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRMB. Vanguard Group Inc. lifted its position in shares of Trimble by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 30,570,278 shares of the scientific and technical instruments company’s stock valued at $2,395,181,000 after acquiring an additional 304,461 shares in the last quarter. State Street Corp raised its stake in Trimble by 0.4% during the 3rd quarter. State Street Corp now owns 10,951,409 shares of the scientific and technical instruments company’s stock valued at $894,183,000 after purchasing an additional 43,285 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Trimble by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 6,309,075 shares of the scientific and technical instruments company’s stock valued at $492,426,000 after purchasing an additional 55,073 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Trimble by 126.0% in the fourth quarter. Wellington Management Group LLP now owns 6,199,706 shares of the scientific and technical instruments company’s stock worth $485,747,000 after buying an additional 3,455,949 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Trimble by 19.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,217,742 shares of the scientific and technical instruments company’s stock worth $330,460,000 after buying an additional 675,134 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TRMB shares. Zacks Research lowered Trimble from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Oppenheimer restated an “outperform” rating and set a $80.00 price objective on shares of Trimble in a research report on Tuesday, July 7th. Piper Sandler lowered their target price on Trimble from $97.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Raymond James Financial downgraded Trimble from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings lowered shares of Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and a consensus price target of $83.78.

Trimble Price Performance

TRMB opened at $59.81 on Wednesday. The stock has a fifty day moving average price of $53.04 and a 200 day moving average price of $61.30. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 1 year low of $47.92 and a 1 year high of $87.50. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.92 and a beta of 1.37.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. Trimble had a return on equity of 11.61% and a net margin of 12.38%.The company had revenue of $939.90 million for the quarter, compared to analyst estimates of $905.60 million. During the same period in the prior year, the firm posted $0.61 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. Analysts forecast that Trimble Inc. will post 3.01 EPS for the current fiscal year.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.