ProShare Advisors LLC Purchases 5,977 Shares of Trimble Inc. (NASDAQ:TRMB)

ProShare Advisors LLC raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 12.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,953 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,977 shares during the period. ProShare Advisors LLC’s holdings in Trimble were worth $3,742,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. purchased a new position in shares of Trimble during the 4th quarter worth $28,000. Rialto Wealth Management LLC bought a new position in shares of Trimble in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. bought a new position in shares of Trimble in the fourth quarter worth about $36,000. Larson Financial Group LLC raised its stake in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 422 shares during the period. Finally, Mather Group LLC. raised its stake in shares of Trimble by 86.4% in the fourth quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock worth $52,000 after buying an additional 343 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Trimble

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TRMB shares. JPMorgan Chase & Co. increased their price objective on shares of Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer increased their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $88.43.

Trimble Price Performance

TRMB stock opened at $71.69 on Tuesday. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The company’s fifty day moving average price is $64.29 and its 200-day moving average price is $69.52. The company has a market capitalization of $17.10 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

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.