Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Trimble Inc. (NASDAQ:TRMB) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,898,092 shares of the scientific and technical instruments company’s stock after purchasing an additional 39,069 shares during the period. Geode Capital Management LLC’s holdings in Trimble were worth $364,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMB. Principal Financial Group Inc. raised its stake in Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after buying an additional 60,752 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Trimble during the 2nd quarter valued at approximately $1,752,000. Raymond James & Associates lifted its stake in Trimble by 27.9% during the second quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock worth $9,198,000 after purchasing an additional 35,841 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock worth $2,496,000 after purchasing an additional 17,424 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Trimble by 41.4% during the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after purchasing an additional 1,594,732 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Down 1.7 %

Shares of Trimble stock opened at $73.59 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble Inc. has a 1-year low of $48.60 and a 1-year high of $76.97. The business’s fifty day moving average price is $67.78 and its two-hundred day moving average price is $60.09. The company has a market capitalization of $17.97 billion, a P/E ratio of 12.31, a PEG ratio of 3.16 and a beta of 1.53.

Analysts Set New Price Targets

Several research firms have recently commented on TRMB. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday. Oppenheimer upped their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $84.00.

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.