Kennedy Capital Management LLC Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

Kennedy Capital Management LLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 17.4% in the first quarter, HoldingsChannel.com reports. The fund owned 49,887 shares of the scientific and technical instruments company’s stock after selling 10,525 shares during the period. Kennedy Capital Management LLC’s holdings in Trimble were worth $3,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Generation Investment Management LLP grew its stake in shares of Trimble by 89.5% during the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after purchasing an additional 5,796,030 shares in the last quarter. Norges Bank acquired a new stake in Trimble during the 4th quarter worth $132,319,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Trimble by 13.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock worth $276,080,000 after purchasing an additional 603,020 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after buying an additional 516,789 shares during the last quarter. Finally, Contour Asset Management LLC boosted its stake in shares of Trimble by 14.6% during the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after buying an additional 442,131 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TRMB. JPMorgan Chase & Co. lifted their target price on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Raymond James reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Trimble in a report on Wednesday, May 15th. Piper Sandler reissued an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday, May 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $0.65 during midday trading on Wednesday, hitting $54.85. The company had a trading volume of 235,979 shares, compared to its average volume of 1,345,759. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $55.89 and a two-hundred day simple moving average of $57.57. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 56.46, a price-to-earnings-growth ratio of 2.49 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The business had revenue of $953.30 million for the quarter, compared to analyst estimates of $921.15 million. Equities research analysts anticipate that Trimble Inc. will post 2.21 earnings per share for the current 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.