9,000 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 9,000 shares of the scientific and technical instruments company’s stock, valued at approximately $579,000.

A number of other large investors have also modified their holdings of the business. Truist Financial Corp lifted its holdings in Trimble by 56.7% in the fourth quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after acquiring an additional 14,074 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in 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 worth $19,057,000 after buying an additional 60,409 shares in the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Trimble by 51.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock worth $2,185,000 after buying an additional 13,899 shares in the last quarter. Jump Financial LLC increased its holdings in Trimble by 80.9% in the fourth quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after buying an additional 17,979 shares in the last quarter. Finally, Contour Asset Management LLC lifted its position in shares of Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after acquiring an additional 442,131 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRMB. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Raymond James reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. Oppenheimer reissued an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Trading Up 0.3 %

Shares of NASDAQ TRMB traded up $0.16 during trading on Tuesday, hitting $57.46. 344,231 shares of the company traded hands, compared to its average volume of 1,348,668. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a 50-day moving average price of $56.12 and a 200-day moving average price of $57.39. The firm has a market capitalization of $14.03 billion, a P/E ratio of 59.69, a P/E/G ratio of 2.54 and a beta of 1.50. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last announced its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $953.30 million during the quarter, compared to the consensus estimate of $921.15 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. On average, equities analysts predict that Trimble Inc. will post 2.21 EPS for the current year.

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.