Maryland State Retirement & Pension System Reduces Stock Position in Trimble Inc. (NASDAQ:TRMB)

Maryland State Retirement & Pension System trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,002 shares of the scientific and technical instruments company’s stock after selling 910 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Trimble were worth $919,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC raised its position in Trimble by 3.4% during the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares during the period. PNC Financial Services Group Inc. raised its holdings in Trimble by 21.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company’s stock valued at $2,026,000 after buying an additional 5,660 shares during the period. Advisors Asset Management Inc. bought a new stake in Trimble in the third quarter worth $194,000. Intech Investment Management LLC boosted its stake in Trimble by 10.2% during the third quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 489 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Trimble by 49.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after acquiring an additional 676,954 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Oppenheimer upped their target price on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Robert W. Baird raised their price target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Finally, StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Trimble currently has an average rating of “Buy” and an average price target of $86.00.

Trimble Price Performance

Shares of TRMB opened at $70.54 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The company has a 50 day moving average price of $72.52 and a 200-day moving average price of $68.53. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The stock has a market capitalization of $17.34 billion, a PE ratio of 11.58, a PEG ratio of 3.09 and a beta of 1.57.

Insider Buying and Selling

In other news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock valued at $831,683 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

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.