Asset Management One Co. Ltd. Has $13.26 Million Position in Trimble Inc. (NASDAQ:TRMB)

Asset Management One Co. Ltd. raised its stake in Trimble Inc. (NASDAQ:TRMB) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 201,994 shares of the scientific and technical instruments company’s stock after buying an additional 20,498 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Trimble were worth $13,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in shares of Trimble during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in Trimble during the fourth quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new position in Trimble in the fourth quarter valued at about $36,000. Central Pacific Bank Trust Division increased its position in Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 355 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 1.2%

Shares of TRMB stock opened at $75.03 on Friday. The stock’s 50 day simple moving average is $68.81 and its 200 day simple moving average is $69.60. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 3.16 and a beta of 1.68.

Trimble (NASDAQ:TRMB) last announced 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. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The company had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. During the same quarter last year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on TRMB shares. JPMorgan Chase & Co. boosted their price target on Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $88.43.

Insider Buying and Selling

In related news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director now owns 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.

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.