Folger Nolan Fleming Douglas Capital Management Inc. Invests $211,000 in Trimble Inc. (NASDAQ:TRMB)

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Trimble Inc. (NASDAQ:TRMB) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,400 shares of the scientific and technical instruments company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam purchased a new stake in shares of Trimble during the first quarter worth about $35,000. GPS Wealth Strategies Group LLC increased its stake in Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 479 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares during the last quarter. Cromwell Holdings LLC boosted its stake in shares of Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 375 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trimble during the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Robert W. Baird raised their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a 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. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Stock Down 0.5 %

Shares of NASDAQ TRMB opened at $61.36 on Thursday. The company has a market capitalization of $14.98 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.73 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The company has a 50 day simple moving average of $59.13 and a 200-day simple moving average of $57.12. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.94% and a net margin of 40.70%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, equities research analysts predict that Trimble Inc. will post 2.23 earnings per share 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.