Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 800.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,726 shares of the scientific and technical instruments company’s stock after purchasing an additional 119,765 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Trimble worth $8,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division boosted its holdings in Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 355 shares during the period. Putney Financial Group LLC purchased a new position in Trimble during the 4th quarter valued at about $51,000. Quarry LP boosted its holdings in Trimble by 121.8% during the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 402 shares during the period. Farther Finance Advisors LLC boosted its holdings in Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after acquiring an additional 591 shares during the period. Finally, Friedenthal Financial boosted its holdings in Trimble by 64.7% during the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company’s stock valued at $76,000 after acquiring an additional 453 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. Raymond James Financial restated an “outperform” rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Oppenheimer raised their target price on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on Trimble from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $90.50.

Insiders Place Their Bets

In related news, CEO Robert G. Painter sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at $9,059,357.94. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director owned 17,939 shares of the company’s stock, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,047 shares of company stock worth $1,538,152 in the last three months. 0.54% of the stock is owned by company insiders.

Trimble Stock Performance

Shares of TRMB opened at $82.59 on Tuesday. The stock has a 50-day simple moving average of $78.16 and a 200-day simple moving average of $71.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The stock has a market capitalization of $19.65 billion, a PE ratio of 71.20, a PEG ratio of 3.55 and a beta of 1.69. Trimble Inc. has a 1 year low of $51.30 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million during the quarter, compared to analysts’ expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, analysts predict that Trimble Inc. will post 2.37 earnings per share 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.