D.B. Root & Company LLC Buys 321 Shares of Trimble Inc. (NASDAQ:TRMB)

D.B. Root & Company LLC increased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,046 shares of the scientific and technical instruments company’s stock after buying an additional 321 shares during the period. D.B. Root & Company LLC’s holdings in Trimble were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after buying an additional 273,863 shares during the period. Generation Investment Management LLP raised its stake in Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after acquiring an additional 5,796,030 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Trimble by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after purchasing an additional 126,472 shares during the last quarter. Primecap Management Co. CA boosted its position in Trimble by 3.9% during the fourth quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after purchasing an additional 188,790 shares during the period. Finally, FIL Ltd increased its holdings in shares of Trimble by 5.2% in the fourth quarter. FIL Ltd now owns 3,588,699 shares of the scientific and technical instruments company’s stock valued at $190,919,000 after purchasing an additional 178,375 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRMB. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler downgraded Trimble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.33.

Trimble Price Performance

Shares of TRMB traded up $0.46 during mid-day trading on Monday, reaching $52.11. The company had a trading volume of 2,137,704 shares, compared to its average volume of 1,469,334. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 54.28, a P/E/G ratio of 2.34 and a beta of 1.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The company’s 50 day simple moving average is $55.08 and its 200 day simple moving average is $57.64. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. Trimble’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Analysts expect that Trimble Inc. will post 2.21 EPS for the current year.

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.