Raiffeisen Bank International AG Makes New $4.01 Million Investment in Trimble Inc. (NASDAQ:TRMB)

Raiffeisen Bank International AG purchased a new position in Trimble Inc. (NASDAQ:TRMB) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 56,971 shares of the scientific and technical instruments company’s stock, valued at approximately $4,012,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Redwood Investment Management LLC acquired a new stake in Trimble in the 4th quarter worth about $467,000. ProShare Advisors LLC boosted its stake in Trimble by 12.7% in the 4th quarter. ProShare Advisors LLC now owns 52,953 shares of the scientific and technical instruments company’s stock worth $3,742,000 after buying an additional 5,977 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Trimble by 517.5% in the 4th quarter. Quantinno Capital Management LP now owns 53,206 shares of the scientific and technical instruments company’s stock worth $3,760,000 after buying an additional 44,589 shares during the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Trimble in the 4th quarter worth about $255,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Trimble in the 4th quarter worth about $568,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Performance

Shares of NASDAQ:TRMB opened at $71.24 on Friday. The company has a market cap of $17.00 billion, a P/E ratio of 11.70, a PEG ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The business’s 50-day simple moving average is $64.10 and its 200 day simple moving average is $69.26.

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

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. The trade was a 17.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. 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 research firms have recently commented on TRMB. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a report on Thursday, February 20th. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Oppenheimer raised their price objective on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $88.43.

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.