abrdn plc Purchases 72,487 Shares of Trimble Inc. (NASDAQ:TRMB)

abrdn plc grew its position in Trimble Inc. (NASDAQ:TRMB) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 487,061 shares of the scientific and technical instruments company’s stock after acquiring an additional 72,487 shares during the period. abrdn plc owned 0.20% of Trimble worth $25,912,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC increased its holdings in shares of Trimble by 383.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after purchasing an additional 174,917 shares in the last quarter. Barclays PLC grew its holdings in Trimble by 43.6% during the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after acquiring an additional 176,139 shares during the period. Hunter Associates Investment Management LLC grew its holdings in Trimble by 51.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock worth $2,185,000 after acquiring an additional 13,899 shares during the period. Raymond James & Associates grew its holdings in Trimble by 126.1% during the 4th quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock worth $7,121,000 after acquiring an additional 74,667 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Trimble by 3.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company’s stock worth $178,887,000 after acquiring an additional 95,588 shares during the period. Institutional investors own 93.21% of the company’s stock.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares in the company, valued at approximately $11,771,371.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,828 shares of company stock worth $1,013,519. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

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

Trimble Stock Up 1.3 %

Trimble stock opened at $59.69 on Wednesday. The firm has a market capitalization of $14.58 billion, a PE ratio of 47.75, a P/E/G ratio of 2.64 and a beta of 1.50. The company’s 50-day moving average is $61.71 and its 200-day moving average is $53.36. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

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

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.