Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 110,452 shares of the scientific and technical instruments company’s stock after buying an additional 3,734 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Trimble were worth $6,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. One Wealth Advisors LLC raised its position in shares of Trimble by 11.0% in the 3rd quarter. One Wealth Advisors LLC now owns 5,464 shares of the scientific and technical instruments company’s stock valued at $339,000 after purchasing an additional 542 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in shares of Trimble by 1.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 42,933 shares of the scientific and technical instruments company’s stock valued at $2,666,000 after purchasing an additional 760 shares during the last quarter. Creative Planning raised its position in shares of Trimble by 4.0% in the 3rd quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock valued at $2,038,000 after purchasing an additional 1,277 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Trimble by 41.9% in the 3rd quarter. Procyon Advisors LLC now owns 9,213 shares of the scientific and technical instruments company’s stock valued at $572,000 after purchasing an additional 2,722 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in shares of Trimble by 34.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 197,134 shares of the scientific and technical instruments company’s stock valued at $12,240,000 after purchasing an additional 50,154 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRMB. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird raised their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $61.77 on Friday. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.83 and a beta of 1.49. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The firm’s 50 day simple moving average is $58.08 and its 200-day simple moving average is $57.21. 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 (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 40.70% and a return on equity of 10.94%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. Analysts expect that Trimble Inc. will post 2.23 EPS 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.