Deutsche Bank AG Grows Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Deutsche Bank AG grew its position in Trimble Inc. (NASDAQ:TRMB) by 12.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,670,116 shares of the scientific and technical instruments company’s stock after buying an additional 179,103 shares during the period. Deutsche Bank AG owned 0.68% of Trimble worth $118,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Trimble in the fourth quarter worth $190,391,000. Boston Partners raised its stake in Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock valued at $239,802,000 after buying an additional 2,312,937 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in Trimble in the fourth quarter worth about $50,041,000. JPMorgan Chase & Co. grew its stake in shares of Trimble by 69.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company’s stock worth $89,837,000 after acquiring an additional 520,980 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Trimble by 1,064.6% during the fourth quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company’s stock valued at $32,257,000 after acquiring an additional 417,313 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity

In related news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Thursday. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a report on Thursday, February 20th. Oppenheimer raised their target price on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trimble presently has a consensus rating of “Buy” and an average price target of $86.00.

Trimble Stock Up 1.1 %

Trimble stock opened at $68.12 on Friday. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The business’s 50-day moving average price is $63.87 and its 200 day moving average price is $69.04. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share 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.