Chilton Capital Management LLC Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

Chilton Capital Management LLC acquired a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 358,547 shares of the scientific and technical instruments company’s stock, valued at approximately $20,050,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Frazier Financial Advisors LLC bought a new position in Trimble in the 4th quarter worth $26,000. Tobam bought a new stake in shares of Trimble in the 1st quarter worth about $35,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. grew its position in Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 313 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Trimble during the fourth quarter worth approximately $52,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Up 0.6 %

TRMB stock traded up $0.34 on Monday, hitting $56.69. 1,581,300 shares of the company’s stock were exchanged, compared to its average volume of 1,360,315. The firm has a 50 day moving average price of $55.15 and a two-hundred day moving average price of $57.91. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The stock has a market cap of $13.84 billion, a P/E ratio of 59.05, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. As a group, equities research analysts expect that Trimble Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRMB shares. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday, August 19th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, Raymond James reissued an “outperform” rating and issued a $65.00 price objective on shares of Trimble in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average price target of $65.33.

Trimble 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.