National Pension Service Increases Holdings in Trimble Inc. (NASDAQ:TRMB)

National Pension Service increased its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 13,597.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,971 shares of the scientific and technical instruments company's stock after purchasing an additional 23,796 shares during the quarter. National Pension Service's holdings in Trimble were worth $1,488,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRMB. Harbor Capital Advisors Inc. increased its stake in shares of Trimble by 4.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company's stock worth $352,000 after purchasing an additional 237 shares in the last quarter. Norris Perne & French LLP MI boosted its stake in shares of Trimble by 65.2% in the third quarter. Norris Perne & French LLP MI now owns 428,605 shares of the scientific and technical instruments company's stock worth $26,612,000 after acquiring an additional 169,117 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in shares of Trimble during the third quarter worth approximately $211,000. Pinnacle Associates Ltd. lifted its holdings in Trimble by 2.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 495,047 shares of the scientific and technical instruments company's stock valued at $30,737,000 after purchasing an additional 12,545 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new stake in Trimble during the 3rd quarter worth $475,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Trading Up 1.1 %

Shares of NASDAQ:TRMB traded up $0.76 during mid-day trading on Friday, reaching $72.90. 794,029 shares of the company were exchanged, compared to its average volume of 1,345,812. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88. Trimble Inc. has a 1 year low of $40.79 and a 1 year high of $73.17. The firm's 50-day simple moving average is $60.14 and its 200 day simple moving average is $57.39.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS 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 analyst estimates of $862.50 million. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. Equities research analysts forecast that Trimble Inc. will post 2.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $66.00 to $74.00 and gave the company a "neutral" rating in a report on Thursday. Oppenheimer restated an "outperform" rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler upped their price objective on Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Robert W. Baird raised their target price on Trimble from $66.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.40.

Trimble 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.