Tennessee Valley Asset Management Partners Invests $117,000 in Trimble Inc. (NASDAQ:TRMB)

Tennessee Valley Asset Management Partners acquired a new position in Trimble Inc. (NASDAQ:TRMB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,203 shares of the scientific and technical instruments company’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Operose Advisors LLC purchased a new stake in Trimble during the 3rd quarter worth approximately $43,000. Orion Capital Management LLC purchased a new stake in Trimble during the 3rd quarter worth approximately $86,000. CVA Family Office LLC purchased a new stake in Trimble during the 4th quarter worth approximately $111,000. Cary Street Partners Investment Advisory LLC grew its position in Trimble by 65.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,634 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 1,039 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Trimble by 16.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,943 shares of the scientific and technical instruments company’s stock worth $159,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

TRMB opened at $58.94 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. The firm has a fifty day moving average price of $61.64 and a 200 day moving average price of $53.30. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The stock has a market cap of $14.39 billion, a P/E ratio of 47.15, a P/E/G ratio of 2.60 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last posted its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm had revenue of $932.40 million during the quarter, compared to analysts’ expectations of $908.43 million. During the same period in the previous year, the business posted $0.52 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Trimble Inc. will post 2.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TRMB. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Oppenheimer upped their price objective on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Robert W. Baird upped their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and a consensus target price of $64.83.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the transaction, the chief executive officer now directly owns 187,055 shares in the company, valued at approximately $11,771,371.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the completion of the transaction, the chief executive officer now directly owns 187,055 shares in the company, valued at $11,771,371.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The disclosure for this sale can be found here. Insiders sold a total of 16,828 shares of company stock worth $1,013,519 in the last three months. Company insiders own 0.47% of the company’s stock.

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.