L. Roy Papp & Associates LLP Decreases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

L. Roy Papp & Associates LLP lessened its position in Trimble Inc. (NASDAQ:TRMB) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,447 shares of the scientific and technical instruments company’s stock after selling 2,625 shares during the period. L. Roy Papp & Associates LLP’s holdings in Trimble were worth $5,019,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC lifted its holdings in Trimble by 43.0% in the 1st quarter. Merit Financial Group LLC now owns 12,188 shares of the scientific and technical instruments company’s stock worth $800,000 after buying an additional 3,665 shares during the period. Czech National Bank lifted its stake in Trimble by 6.6% in the first quarter. Czech National Bank now owns 56,454 shares of the scientific and technical instruments company’s stock worth $3,706,000 after acquiring an additional 3,504 shares during the period. Rhumbline Advisers lifted its stake in Trimble by 8.0% in the first quarter. Rhumbline Advisers now owns 499,109 shares of the scientific and technical instruments company’s stock worth $32,766,000 after acquiring an additional 37,051 shares during the period. Parallel Advisors LLC increased its position in Trimble by 20.0% during the 1st quarter. Parallel Advisors LLC now owns 1,904 shares of the scientific and technical instruments company’s stock valued at $125,000 after purchasing an additional 317 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Trimble by 8,114.0% in the 1st quarter. GAMMA Investing LLC now owns 346,304 shares of the scientific and technical instruments company’s stock worth $22,735,000 after purchasing an additional 342,088 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Transactions at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director now owns 17,939 shares of the company’s stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target 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. Oppenheimer upped their target price on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wall Street Zen lowered Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Finally, Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a report on Thursday, February 20th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $88.43.

Trimble Stock Performance

Shares of Trimble stock opened at $71.67 on Thursday. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The firm’s 50-day moving average is $64.72 and its 200 day moving average is $69.63. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.09 and a beta of 1.67. 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 (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Sell-side analysts anticipate 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.