Assenagon Asset Management S.A. Grows Position in Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 132.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,774 shares of the scientific and technical instruments company's stock after acquiring an additional 296,893 shares during the period. Assenagon Asset Management S.A. owned 0.21% of Trimble worth $32,397,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in Trimble by 6,109.0% in 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 acquiring an additional 16,311 shares in the last quarter. Liberty Capital Management Inc. boosted its stake in Trimble by 1.9% in the 3rd quarter. Liberty Capital Management Inc. now owns 24,425 shares of the scientific and technical instruments company's stock worth $1,517,000 after purchasing an additional 454 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Trimble by 5.8% in the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in Trimble by 78.8% during the 3rd 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 during the last quarter. Finally, Cadent Capital Advisors LLC increased its stake in Trimble by 37.3% during the 3rd 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. Institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Trimble from $58.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Piper Sandler reiterated an "overweight" rating and set a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Robert W. Baird boosted their price target on Trimble from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Trimble from a "buy" rating to a "hold" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.67.

Trimble Stock Performance

Shares of NASDAQ TRMB traded up $0.34 during midday trading on Friday, hitting $60.90. 725,077 shares of the stock traded hands, compared to its average volume of 1,345,815. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The firm has a market capitalization of $14.87 billion, a P/E ratio of 9.90, a PEG ratio of 2.70 and a beta of 1.49. The firm has a 50-day moving average of $58.68 and a two-hundred day moving average of $57.17.

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