AQR Capital Management LLC grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2,035.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,146,995 shares of the scientific and technical instruments company's stock after acquiring an additional 1,093,275 shares during the period. AQR Capital Management LLC owned about 0.47% of Trimble worth $63,635,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Tobam bought a new position in Trimble during the 1st quarter valued at approximately $35,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Trimble by 303.2% during the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company's stock valued at $36,000 after acquiring an additional 479 shares in the last quarter. Blue Trust Inc. lifted its stake in Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company's stock worth $36,000 after acquiring an additional 313 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Trimble in the second quarter valued at $48,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Trimble during the 2nd quarter valued at $52,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
Trimble stock opened at $61.65 on Friday. Trimble Inc. has a 12 month low of $39.57 and a 12 month high of $65.55. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 64.22, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. The business's fifty day simple moving average is $55.57 and its two-hundred day simple moving average is $57.37. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25.
Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 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 the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. Trimble's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, equities analysts predict that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on TRMB. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Thursday, September 12th. Robert W. Baird increased their target price on Trimble from $65.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Piper Sandler restated an "overweight" rating and set a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reiterated an "outperform" rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $66.67.
View Our Latest Stock Analysis on 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.
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