Public Employees Retirement System of Ohio Acquires 23,976 Shares of Trimble Inc. (NASDAQ:TRMB)

Public Employees Retirement System of Ohio grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,446 shares of the scientific and technical instruments company’s stock after buying an additional 23,976 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Trimble were worth $8,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vega Investment Solutions bought a new position in shares of Trimble during the fourth quarter valued at approximately $1,060,000. Orion Capital Management LLC bought a new position in shares of Trimble during the fourth quarter valued at approximately $113,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trimble by 2.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company’s stock valued at $390,909,000 after buying an additional 134,277 shares during the last quarter. USS Investment Management Ltd bought a new position in shares of Trimble during the fourth quarter valued at approximately $3,257,000. Finally, Woodline Partners LP bought a new position in shares of Trimble during the fourth quarter valued at approximately $1,036,000. Institutional investors own 93.21% of the company’s stock.

Insider Buying and Selling at Trimble

In other news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction on Wednesday, May 21st. The stock was 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 in the company, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Trimble Stock Down 0.3%

Shares of NASDAQ TRMB opened at $70.55 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $16.83 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The stock’s fifty day simple moving average is $64.43 and its two-hundred day simple moving average is $69.62. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78.

Trimble (NASDAQ:TRMB) last announced 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 return on equity of 10.56% and a net margin of 40.84%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.