California State Teachers Retirement System Raises Holdings in Trimble Inc. (NASDAQ:TRMB)

California State Teachers Retirement System grew its position in shares of Trimble Inc. (NASDAQ:TRMB) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 426,827 shares of the scientific and technical instruments company’s stock after buying an additional 10,656 shares during the period. California State Teachers Retirement System owned 0.17% of Trimble worth $27,471,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Trimble by 56.7% during the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after buying an additional 14,074 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Trimble by 25.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock valued at $19,057,000 after buying an additional 60,409 shares during the last quarter. Hunter Associates Investment Management LLC raised its stake in shares of Trimble by 51.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after purchasing an additional 13,899 shares during the period. Jump Financial LLC raised its stake in shares of Trimble by 80.9% during the 4th quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after purchasing an additional 17,979 shares during the period. Finally, Contour Asset Management LLC raised its stake in shares of Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after purchasing an additional 442,131 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

Shares of Trimble stock traded down $0.10 during trading on Thursday, hitting $54.44. 114,760 shares of the stock traded hands, compared to its average volume of 1,350,825. 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 stock has a market cap of $13.29 billion, a price-to-earnings ratio of 56.81, a PEG ratio of 2.46 and a beta of 1.50. The firm’s fifty day moving average is $55.89 and its 200-day moving average is $57.57. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRMB. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their price objective 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 restated an “outperform” rating and issued a $65.00 target price on shares of Trimble in a research note on Wednesday, May 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.67.

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.