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

Assenagon Asset Management S.A. increased its position in Trimble Inc. (NASDAQ:TRMB) by 132.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 521,774 shares of the scientific and technical instruments company’s stock after purchasing an additional 296,893 shares during the period. Assenagon Asset Management S.A. owned approximately 0.21% of Trimble worth $32,397,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Trimble by 25.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock valued at $19,057,000 after buying an additional 60,409 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Trimble by 484.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after purchasing an additional 75,182 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Trimble by 2.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after purchasing an additional 126,472 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Trimble by 11.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock valued at $15,960,000 after purchasing an additional 24,938 shares in the last quarter. Finally, Trustmark National Bank Trust Department bought a new stake in Trimble during the first quarter worth $579,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Up 0.4 %

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

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $862.50 million. During the same period in the previous year, the company posted $0.51 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. As a group, equities analysts predict that Trimble Inc. will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.