Putney Financial Group LLC Buys Shares of 727 Trimble Inc. (NASDAQ:TRMB)

Putney Financial Group LLC bought a new stake in Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 727 shares of the scientific and technical instruments company’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in shares of Trimble in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Trimble in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble in the 4th quarter valued at approximately $36,000. Larson Financial Group LLC grew its stake in shares of Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 422 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 343 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Down 0.3%

Trimble stock opened at $70.55 on Monday. 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 1-year low of $48.65 and a 1-year high of $77.78. The company has a market cap of $16.83 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The stock’s 50 day moving average price is $64.46 and its 200 day moving average price is $69.64.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company 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%. Trimble’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, sell-side analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TRMB shares. Wall Street Zen downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Oppenheimer lifted their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Finally, Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trimble currently has a consensus rating of “Buy” and an average price target of $88.43.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the business’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction 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. 0.54% of the stock is owned by company insiders.

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.