L. Roy Papp & Associates LLP Has $4.99 Million Stake in Trimble Inc. (NASDAQ:TRMB)

L. Roy Papp & Associates LLP decreased its holdings in Trimble Inc. (NASDAQ:TRMB) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,287 shares of the scientific and technical instruments company’s stock after selling 1,040 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Trimble were worth $4,985,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TRMB. Brookstone Capital Management acquired a new stake in Trimble in the 1st quarter worth about $334,000. Wealth Enhancement Advisory Services LLC raised its stake in Trimble by 18.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,942 shares of the scientific and technical instruments company’s stock worth $511,000 after purchasing an additional 1,251 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Trimble by 2.4% in the 1st 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 in the last quarter. SpiderRock Advisors LLC acquired a new stake in Trimble in the 1st quarter worth about $8,795,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Trimble in the 1st quarter worth about $248,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Price Performance

Shares of Trimble stock traded up $0.34 during midday trading on Friday, hitting $60.90. 725,077 shares of the company traded hands, compared to its average volume of 1,345,815. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.70 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The firm’s fifty day moving average price is $58.81 and its 200-day moving average price is $57.12. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly 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. The company had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, sell-side analysts forecast that Trimble Inc. will post 2.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on TRMB. JPMorgan Chase & Co. raised their target price 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 reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Robert W. Baird raised their target price on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.67.

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.