5 Best Drone Stocks To Buy Now

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1. Trimble Inc. (NASDAQ:TRMB)

Number of Hedge Fund Holders: 32

Trimble Inc. (NASDAQ:TRMB) is a California-based technology firm that enhances the performance of field mobile workers by transforming their work processes. Trimble Inc. (NASDAQ:TRMB)’s Stratus Software enables the use of drones to map, measure, and share accurate information about worksites and assets. In addition to adding efficacy to operations and growing profitability, Trimble Inc. (NASDAQ:TRMB) allows access to hazardous locations safely via a drone. 

On May 5, Trimble Inc. (NASDAQ:TRMB) reported its Q1 results, posting earnings per share of $0.73, beating market consensus estimates by $0.06. Revenue for the period grew 12.07% year-over-year to about $994 million, outperforming analysts’ estimates by $26.45 million. 

Baird analyst Richard Eastman on May 6 reiterated an Outperform rating on Trimble Inc. (NASDAQ:TRMB) and lowered the price target on the stock to $80 from $90. The analyst said the company’s Transportation revitalization still needs to mature, as growth and margin trail other segments, but Trimble Inc. (NASDAQ:TRMB)’s portfolio transformation has increased revenue stability in downturn scenarios, which led to his positive rating.

According to Insider Monkey’s fourth quarter database, 32 hedge funds were long Trimble Inc. (NASDAQ:TRMB), with collective stakes worth over $2 billion. In Q1 2022, David Blood and Al Gore’s Generation Investment Management reported owning a sizable position in Trimble Inc. (NASDAQ:TRMB), with 3.35 million shares worth $241.8 million.

You can also take a peek at 12 Best American Stocks To Buy in 2022 and 10 LNG Shipping Stocks to Buy Now.

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