Sentry Investment Management LLC Invests $76,000 in Trimble Inc. (NASDAQ:TRMB)

Sentry Investment Management LLC purchased a new stake in Trimble Inc. (NASDAQ:TRMB) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,224 shares of the scientific and technical instruments company’s stock, valued at approximately $76,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Trimble by 25.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after buying an additional 60,409 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Trimble by 484.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock valued at $5,838,000 after acquiring an additional 75,182 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Trimble by 11.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after purchasing an additional 24,938 shares in the last quarter. Trustmark National Bank Trust Department acquired a new position in shares of Trimble during the 1st quarter worth approximately $579,000. Finally, Swedbank AB acquired a new stake in shares of Trimble in the first quarter valued at approximately $17,937,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TRMB shares. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird lifted their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.40.

Trimble Stock Performance

NASDAQ:TRMB opened at $61.62 on Wednesday. Trimble Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $65.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The company has a 50 day moving average price of $59.39 and a 200 day moving average price of $57.16. The stock has a market capitalization of $15.05 billion, a P/E ratio of 10.07, a PEG ratio of 2.75 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Trimble Inc. will post 2.23 EPS for the current year.

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.