Moore Capital Management LP Grows Holdings in Trimble Inc. (NASDAQ:TRMB)

Moore Capital Management LP increased its stake in Trimble Inc. (NASDAQ:TRMB) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,962 shares of the scientific and technical instruments company’s stock after buying an additional 48,494 shares during the period. Moore Capital Management LP owned about 0.08% of Trimble worth $13,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRMB. Lazard Asset Management LLC boosted its holdings in Trimble by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 2,794,854 shares of the scientific and technical instruments company’s stock worth $197,483,000 after purchasing an additional 26,223 shares during the period. Gotham Asset Management LLC boosted its position in Trimble by 4.7% during the 4th quarter. Gotham Asset Management LLC now owns 214,295 shares of the scientific and technical instruments company’s stock valued at $15,142,000 after purchasing an additional 9,652 shares during the period. Fred Alger Management LLC grew its stake in Trimble by 317.4% during the 4th quarter. Fred Alger Management LLC now owns 24,717 shares of the scientific and technical instruments company’s stock worth $1,747,000 after buying an additional 18,796 shares during the last quarter. Deutsche Bank AG grew its stake in Trimble by 12.0% during the 4th quarter. Deutsche Bank AG now owns 1,670,116 shares of the scientific and technical instruments company’s stock worth $118,010,000 after buying an additional 179,103 shares during the last quarter. Finally, Contour Asset Management LLC increased its position in Trimble by 4.4% in the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company’s stock worth $330,772,000 after buying an additional 197,913 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 1.1%

Shares of TRMB stock opened at $68.12 on Monday. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78. The company has a market cap of $16.25 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $63.87 and its two-hundred day moving average is $69.10.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same period last year, the business posted $0.64 EPS. Trimble’s revenue was down 11.8% compared to the same quarter last year. Equities analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TRMB shares. Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Thursday. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Finally, Oppenheimer raised their price objective on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.00.

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.