abrdn plc Acquires 72,487 Shares of Trimble Inc. (NASDAQ:TRMB)

abrdn plc lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 17.5% in the fourth quarter, HoldingsChannel reports. The fund owned 487,061 shares of the scientific and technical instruments company’s stock after buying an additional 72,487 shares during the period. abrdn plc’s holdings in Trimble were worth $25,912,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Operose Advisors LLC bought a new stake in Trimble during the 3rd quarter valued at $43,000. Orion Capital Management LLC bought a new stake in Trimble during the 3rd quarter valued at $86,000. CVA Family Office LLC bought a new stake in Trimble during the 4th quarter valued at $111,000. Tennessee Valley Asset Management Partners bought a new stake in Trimble during the 4th quarter valued at $117,000. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Trimble by 65.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,634 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 1,039 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Up 1.3 %

NASDAQ:TRMB opened at $59.69 on Wednesday. The firm’s 50-day moving average price is $61.71 and its 200-day moving average price is $53.36. The company has a market capitalization of $14.58 billion, a PE ratio of 47.75, a P/E/G ratio of 2.64 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The company had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. During the same period in the prior year, the firm posted $0.52 EPS. Trimble’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts predict that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Analyst Ratings Changes

TRMB has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, April 15th. Oppenheimer boosted their price objective on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Robert W. Baird boosted their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.83.

Insider Activity at Trimble

In related news, SVP Peter Large sold 1,447 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the sale, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at approximately $485,802. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter Large sold 1,447 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the transaction, the senior vice president now owns 8,220 shares in the company, valued at approximately $485,802. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,828 shares of company stock valued at $1,013,519. 0.47% of the stock is owned by insiders.

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.