Amalgamated Bank Purchases 762 Shares of Trimble Inc. (NASDAQ:TRMB)

Amalgamated Bank boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 1.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 47,664 shares of the scientific and technical instruments company’s stock after purchasing an additional 762 shares during the period. Amalgamated Bank’s holdings in Trimble were worth $3,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRMB. Brighton Jones LLC bought a new stake in Trimble during the 4th quarter valued at about $211,000. Smartleaf Asset Management LLC lifted its holdings in Trimble by 76.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,897 shares of the scientific and technical instruments company’s stock valued at $134,000 after buying an additional 822 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Trimble by 12.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 149 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Trimble during the 4th quarter valued at about $36,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Trimble by 8.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,610 shares of the scientific and technical instruments company’s stock valued at $184,000 after buying an additional 193 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 1.2%

NASDAQ TRMB opened at $78.82 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 3.36 and a beta of 1.67. The company’s 50-day simple moving average is $70.97 and its two-hundred day simple moving average is $69.74. Trimble Inc. has a one year low of $48.65 and a one year high of $78.99.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The firm had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director owned 17,939 shares of the company’s stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRMB. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Trimble has an average rating of “Buy” and an average 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.