Assenagon Asset Management S.A. Purchases 296,893 Shares of Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. raised its position in Trimble Inc. (NASDAQ:TRMB) by 132.0% in the 3rd quarter, Holdings Channel reports. The firm owned 521,774 shares of the scientific and technical instruments company’s stock after buying an additional 296,893 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Trimble were worth $32,397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TRMB. International Assets Investment Management LLC grew its position in Trimble by 6,109.0% during the third quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company’s stock worth $1,029,000 after buying an additional 16,311 shares in the last quarter. Liberty Capital Management Inc. boosted its position in shares of Trimble by 1.9% during the 3rd quarter. Liberty Capital Management Inc. now owns 24,425 shares of the scientific and technical instruments company’s stock valued at $1,517,000 after acquiring an additional 454 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after purchasing an additional 219 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Trimble by 78.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company’s stock valued at $1,783,000 after purchasing an additional 12,660 shares in the last quarter. Finally, Cadent Capital Advisors LLC raised its stake in Trimble by 37.3% in the third quarter. Cadent Capital Advisors LLC now owns 5,942 shares of the scientific and technical instruments company’s stock valued at $369,000 after purchasing an additional 1,613 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Up 0.4 %

Shares of TRMB stock opened at $60.56 on Friday. The business has a 50-day moving average of $58.68 and a 200 day moving average of $57.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The stock has a market capitalization of $14.79 billion, a PE ratio of 9.90, a P/E/G ratio of 2.70 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.23 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.