Avanza Fonder AB Makes New $1.84 Million Investment in Trimble Inc. (NASDAQ:TRMB)

Avanza Fonder AB bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 26,090 shares of the scientific and technical instruments company’s stock, valued at approximately $1,844,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. grew its position in Trimble by 27.9% during the second quarter. American Century Companies Inc. now owns 16,067 shares of the scientific and technical instruments company’s stock worth $898,000 after buying an additional 3,507 shares during the period. Envestnet Asset Management Inc. grew its holdings in Trimble by 6.5% in the second quarter. Envestnet Asset Management Inc. now owns 228,235 shares of the scientific and technical instruments company’s stock valued at $12,763,000 after purchasing an additional 13,845 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Trimble by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after buying an additional 361,421 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Trimble during the 2nd quarter worth $331,000. Finally, Argent Trust Co grew its stake in Trimble by 97.4% in the 2nd quarter. Argent Trust Co now owns 6,284 shares of the scientific and technical instruments company’s stock valued at $351,000 after acquiring an additional 3,100 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TRMB. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and increased their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Oppenheimer boosted their price target on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird increased their price objective on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Trimble presently has an average rating of “Buy” and an average target price of $84.86.

Trimble Stock Performance

NASDAQ TRMB opened at $74.92 on Friday. The business’s 50-day moving average price is $72.27 and its 200 day moving average price is $62.96. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a twelve month low of $48.60 and a twelve month high of $76.97. The company has a market capitalization of $18.30 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.52.

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.