First Trust Advisors LP Has $49.57 Million Stock Holdings in Trimble Inc. $TRMB

First Trust Advisors LP lifted its stake in Trimble Inc. (NASDAQ:TRMB) by 39.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 652,402 shares of the scientific and technical instruments company’s stock after acquiring an additional 183,365 shares during the quarter. First Trust Advisors LP’s holdings in Trimble were worth $49,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MAI Capital Management grew its stake in Trimble by 4.7% in the second quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock valued at $213,000 after purchasing an additional 126 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Trimble by 18.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock valued at $69,000 after buying an additional 141 shares during the last quarter. Balboa Wealth Partners grew its stake in shares of Trimble by 4.7% in the second quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock valued at $243,000 after buying an additional 144 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Trimble by 11.7% in the second quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 159 shares in the last quarter. Finally, Horizon Investments LLC increased its holdings in Trimble by 5.6% during the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company’s stock worth $232,000 after buying an additional 188 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $97.00 price target on shares of Trimble in a research note on Friday, November 7th. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the company a “buy” rating in a research note on Friday, October 3rd. Oppenheimer reissued an “outperform” rating and set a $102.00 price target on shares of Trimble in a research report on Thursday, November 6th. JPMorgan Chase & Co. upped their price objective on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, Zacks Research upgraded Trimble from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Trimble presently has an average rating of “Buy” and an average target price of $94.18.

Trimble Stock Performance

NASDAQ:TRMB opened at $81.77 on Tuesday. The stock has a market cap of $19.45 billion, a P/E ratio of 56.01, a PEG ratio of 3.26 and a beta of 1.60. The stock has a 50 day simple moving average of $79.49 and a 200 day simple moving average of $79.06. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The firm had revenue of $856.50 million for the quarter. Research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Trimble declared that its Board of Directors has authorized a stock buyback plan on Friday, December 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Trimble

In other news, Director James Calvin Dalton sold 616 shares of Trimble stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $81.99, for a total value of $50,505.84. Following the completion of the sale, the director directly owned 13,193 shares in the company, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher F. Keating sold 7,365 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the sale, the vice president owned 406 shares of the company’s stock, valued at approximately $33,186.44. This trade represents a 94.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,699 shares of company stock worth $1,955,304 over the last quarter. Company 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.