Exchange Traded Concepts LLC Has $12.60 Million Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Exchange Traded Concepts LLC boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,981 shares of the scientific and technical instruments company’s stock after buying an additional 12,039 shares during the period. Exchange Traded Concepts LLC’s holdings in Trimble were worth $12,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMB. Crowley Wealth Management Inc. purchased a new stake in shares of Trimble in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC bought a new position in Trimble during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. bought a new position in Trimble during the fourth quarter worth about $36,000. Central Pacific Bank Trust Division boosted its position in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 355 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director now owns 17,939 shares of the company’s stock, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRMB. Wall Street Zen lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research note on Thursday, February 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Finally, Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.43.

Trimble Stock Performance

Shares of Trimble stock opened at $71.08 on Friday. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.09 and a beta of 1.68. The firm’s 50-day moving average is $66.30 and its 200 day moving average is $69.65. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

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 business had revenue of $840.60 million for 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 for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal 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.