Folger Nolan Fleming Douglas Capital Management Inc. Buys Shares of 3,400 Trimble Inc. (NASDAQ:TRMB)

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 3,400 shares of the scientific and technical instruments company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also modified their holdings of TRMB. Pinnacle Associates Ltd. increased its stake in Trimble by 2.6% during the third quarter. Pinnacle Associates Ltd. now owns 495,047 shares of the scientific and technical instruments company’s stock worth $30,737,000 after purchasing an additional 12,545 shares during the period. Deltec Asset Management LLC purchased a new stake in Trimble during the 3rd quarter worth approximately $475,000. abrdn plc lifted its holdings in Trimble by 2.7% during the 3rd quarter. abrdn plc now owns 556,235 shares of the scientific and technical instruments company’s stock worth $34,122,000 after buying an additional 14,663 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Trimble by 11.6% in the 3rd quarter. Pallas Capital Advisors LLC now owns 7,192 shares of the scientific and technical instruments company’s stock valued at $436,000 after buying an additional 748 shares during the period. Finally, Hunter Associates Investment Management LLC grew its stake in shares of Trimble by 1.6% in the third quarter. Hunter Associates Investment Management LLC now owns 48,697 shares of the scientific and technical instruments company’s stock worth $3,019,000 after acquiring an additional 750 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRMB shares. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird upped 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. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Down 0.5 %

Shares of Trimble stock opened at $61.36 on Thursday. The company has a fifty day simple moving average of $59.13 and a 200-day simple moving average of $57.12. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.73 and a beta of 1.49.

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