AlphaCrest Capital Management LLC bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 5,974 shares of the scientific and technical instruments company’s stock, valued at approximately $489,000.
A number of other institutional investors also recently modified their holdings of TRMB. CoreFirst Bank & Trust acquired a new position in Trimble during the first quarter valued at $26,000. RE Advisers Corp acquired a new position in shares of Trimble in the 2nd quarter valued at about $30,000. CSat Investment Advisory L.P. acquired a new position in shares of Trimble in the 1st quarter valued at about $47,000. Barrett Asset Management LLC acquired a new position in shares of Trimble in the 1st quarter valued at about $68,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of Trimble in the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 90.08% of the company’s stock.
Separately, Morgan Stanley cut Trimble from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $80.00 to $74.00 in a report on Thursday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Trimble presently has an average rating of “Hold” and a consensus price target of $69.20.
Shares of Trimble stock opened at $81.09 on Thursday. The business has a 50 day simple moving average of $89.22 and a two-hundred day simple moving average of $83.43. Trimble Inc. has a 12 month low of $47.19 and a 12 month high of $96.49. The stock has a market capitalization of $20.40 billion, a P/E ratio of 39.56, a PEG ratio of 4.32 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.28 and a quick ratio of 1.02.
Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, August 4th. The scientific and technical instruments company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.12. Trimble had a return on equity of 15.69% and a net margin of 15.01%. The business had revenue of $945.30 million during the quarter, compared to analysts’ expectations of $870.23 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. As a group, research analysts anticipate that Trimble Inc. will post 2.17 EPS for the current fiscal year.
Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.
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