Adage Capital Partners GP L.L.C. Buys 370,900 Shares of Trimble Inc. (NASDAQ:TRMB)

Adage Capital Partners GP L.L.C. raised its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 161.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 601,122 shares of the scientific and technical instruments company's stock after buying an additional 370,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.24% of Trimble worth $42,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Altrinsic Global Advisors LLC grew its stake in shares of Trimble by 0.7% in the 4th quarter. Altrinsic Global Advisors LLC now owns 197,450 shares of the scientific and technical instruments company's stock valued at $13,952,000 after purchasing an additional 1,442 shares during the period. Quantessence Capital LLC bought a new stake in Trimble in the fourth quarter valued at $393,000. Hsbc Holdings PLC raised its stake in Trimble by 4.5% during the fourth quarter. Hsbc Holdings PLC now owns 467,225 shares of the scientific and technical instruments company's stock worth $33,022,000 after acquiring an additional 20,163 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Trimble during the fourth quarter valued at $221,000. Finally, Stifel Financial Corp increased its position in shares of Trimble by 7.8% during the 4th quarter. Stifel Financial Corp now owns 129,007 shares of the scientific and technical instruments company's stock worth $9,116,000 after purchasing an additional 9,323 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several recent analyst reports. StockNews.com lowered shares of Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday, March 3rd. Oppenheimer boosted their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus price target of $86.00.

Trimble Trading Up 0.1 %

NASDAQ TRMB traded up $0.06 during trading hours on Friday, hitting $61.71. The company's stock had a trading volume of 844,042 shares, compared to its average volume of 1,401,590. The stock has a fifty day moving average of $65.32 and a 200 day moving average of $68.90. 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 twelve month low of $48.65 and a twelve month high of $77.78. The firm has a market capitalization of $15.17 billion, a P/E ratio of 10.13, a PEG ratio of 3.09 and a beta of 1.57.

Insider Transactions at Trimble

In other 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 transaction of $411,048.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 10,162 shares of the company's stock, valued at $729,529.98. This trade represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

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.