Prudential Financial Inc. Decreases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Prudential Financial Inc. lessened its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,132 shares of the scientific and technical instruments company’s stock after selling 3,707 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Trimble worth $10,679,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Trimble by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company’s stock worth $2,099,064,000 after purchasing an additional 183,150 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Trimble by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock valued at $364,984,000 after buying an additional 39,069 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Trimble by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock worth $400,312,000 after buying an additional 222,679 shares during the last quarter. Boston Partners grew its holdings in shares of Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock worth $239,802,000 after acquiring an additional 2,312,937 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Trimble by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,080,628 shares of the scientific and technical instruments company’s stock valued at $147,017,000 after acquiring an additional 24,070 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

Shares of Trimble stock opened at $65.52 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The stock’s 50-day simple moving average is $72.15 and its 200-day simple moving average is $68.83. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 3.09 and a beta of 1.57.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Monday, December 16th. Oppenheimer upped their target price on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upgraded 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. Sanford C. Bernstein upped their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Thursday, February 20th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $86.00.

Insider Buying and Selling

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. This trade represents a 53.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,421 shares of company stock valued at $831,683. Corporate insiders own 0.47% of the company’s stock.

Trimble Company 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.