Royal Bank of Canada Acquires 93,656 Shares of Trimble Inc. $TRMB

Royal Bank of Canada lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 25.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,329 shares of the scientific and technical instruments company’s stock after purchasing an additional 93,656 shares during the period. Royal Bank of Canada’s holdings in Trimble were worth $29,766,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TRMB. Rothschild Investment LLC raised its holdings in Trimble by 193.6% during the fourth quarter. Rothschild Investment LLC now owns 323 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 213 shares in the last quarter. DV Equities LLC bought a new stake in shares of Trimble during the 4th quarter worth about $26,000. Bank of Jackson Hole Trust bought a new stake in shares of Trimble during the 4th quarter worth about $27,000. Quarry LP increased its holdings in shares of Trimble by 175.8% during the 3rd quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 232 shares during the last quarter. Finally, BOKF NA raised its stake in shares of Trimble by 103.8% in the 4th quarter. BOKF NA now owns 426 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 217 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRMB has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on Trimble from $88.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Weiss Ratings lowered shares of Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Piper Sandler reduced their price objective on shares of Trimble from $97.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays lowered their target price on shares of Trimble from $103.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and a consensus price target of $83.78.

Trimble Stock Performance

NASDAQ TRMB opened at $59.81 on Wednesday. The company’s fifty day moving average is $53.04 and its two-hundred day moving average is $61.30. Trimble Inc. has a 52-week low of $47.92 and a 52-week high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 0.88. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.92 and a beta of 1.37.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. Trimble had a return on equity of 11.61% and a net margin of 12.38%.The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $905.60 million. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Trimble Inc. will post 3.01 EPS for the current year.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.