Balyasny Asset Management L.P. Invests $474,000 in Trimble Inc. (NASDAQ:TRMB)

Balyasny Asset Management L.P. bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,703 shares of the scientific and technical instruments company’s stock, valued at approximately $474,000.

A number of other large investors have also modified their holdings of TRMB. Barclays PLC raised its stake in shares of Trimble by 4.3% during the 3rd quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company’s stock worth $46,151,000 after buying an additional 30,457 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after buying an additional 60,752 shares in the last quarter. Czech National Bank raised its stake in shares of Trimble by 6.4% during the 4th quarter. Czech National Bank now owns 52,950 shares of the scientific and technical instruments company’s stock worth $3,741,000 after buying an additional 3,203 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Trimble during the 4th quarter worth approximately $406,000. Finally, Avanza Fonder AB purchased a new position in shares of Trimble during the 4th quarter worth approximately $1,844,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trimble

In other news, Director James Calvin Dalton sold 2,141 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher F. Keating sold 5,709 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $71.24 on Friday. The business’s fifty day moving average price is $64.10 and its two-hundred day moving average price is $69.26. The stock has a market cap of $17.00 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRMB. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $88.43.

Trimble 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.