Amalgamated Bank Increases Position in Trimble Inc. (NASDAQ:TRMB)

Amalgamated Bank lifted its position in Trimble Inc. (NASDAQ:TRMB) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,664 shares of the scientific and technical instruments company’s stock after buying an additional 762 shares during the period. Amalgamated Bank’s holdings in Trimble were worth $3,129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Essex Investment Management Co. LLC lifted its position in Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock valued at $2,017,000 after purchasing an additional 141 shares during the period. Cullen Frost Bankers Inc. lifted its position in Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. lifted its position in Trimble by 12.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp lifted its position in Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock valued at $717,000 after purchasing an additional 156 shares during the period. Finally, Huntington National Bank lifted its position in Trimble by 10.4% during the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock valued at $125,000 after purchasing an additional 167 shares during the period. Institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRMB. Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $88.43.

Trimble Stock Performance

Shares of NASDAQ:TRMB opened at $78.82 on Friday. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $78.99. The stock has a market capitalization of $18.81 billion, a P/E ratio of 12.86, a PEG ratio of 3.36 and a beta of 1.67. The firm has a fifty day simple moving average of $70.97 and a two-hundred day simple moving average of $69.74. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $810.45 million. During the same period last year, the company posted $0.64 EPS. The business’s revenue was down 11.8% on a year-over-year basis. On average, analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director owned 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

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.