Orion Capital Management LLC Takes Position in Trimble Inc. (NASDAQ:TRMB)

Orion Capital Management LLC bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,600 shares of the scientific and technical instruments company’s stock, valued at approximately $113,000.

A number of other hedge funds have also bought and sold shares of TRMB. KBC Group NV raised its holdings in shares of Trimble by 81.9% in the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock worth $11,279,000 after buying an additional 71,891 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Trimble by 5.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company’s stock worth $26,560,000 after acquiring an additional 17,785 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Trimble by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company’s stock worth $1,580,000 after acquiring an additional 5,472 shares during the period. Simon Quick Advisors LLC raised its stake in shares of Trimble by 34.1% during the fourth quarter. Simon Quick Advisors LLC now owns 13,634 shares of the scientific and technical instruments company’s stock valued at $963,000 after acquiring an additional 3,465 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Trimble by 3,560.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 16,765 shares of the scientific and technical instruments company’s stock valued at $1,185,000 after purchasing an additional 16,307 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of TRMB opened at $72.31 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The stock has a market cap of $17.25 billion, a P/E ratio of 11.87, a P/E/G ratio of 3.09 and a beta of 1.67. The stock has a 50-day moving average of $64.41 and a two-hundred day moving average of $69.54.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The firm’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling

In other news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on TRMB shares. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a report on Thursday, February 20th. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Finally, StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.43.

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.