Trimble Inc. (NASDAQ:TRMB) Stock Holdings Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 338.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 815,909 shares of the scientific and technical instruments company’s stock after acquiring an additional 629,960 shares during the quarter. Assenagon Asset Management S.A. owned 0.33% of Trimble worth $53,564,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB grew its position in Trimble by 10.5% during the 1st quarter. Handelsbanken Fonder AB now owns 54,182 shares of the scientific and technical instruments company’s stock worth $3,557,000 after purchasing an additional 5,130 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Trimble by 53.0% in the first quarter. SG Americas Securities LLC now owns 70,764 shares of the scientific and technical instruments company’s stock worth $4,646,000 after buying an additional 24,528 shares during the period. GAMMA Investing LLC boosted its position in shares of Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company’s stock worth $346,000 after buying an additional 1,059 shares during the period. Pallas Capital Advisors LLC grew its holdings in shares of Trimble by 32.5% during the first quarter. Pallas Capital Advisors LLC now owns 9,569 shares of the scientific and technical instruments company’s stock valued at $628,000 after buying an additional 2,346 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 591 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kaigham Gabriel sold 6,511 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director now directly owns 17,939 shares in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TRMB shares. Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer increased their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wall Street Zen cut shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th. Finally, Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $88.43.

Trimble Stock Down 0.4%

TRMB opened at $72.54 on Thursday. The company has a market capitalization of $17.31 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 3.09 and a beta of 1.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The business has a 50-day moving average of $65.65 and a 200-day moving average of $69.68.

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