APG Asset Management N.V. Raises Stake in Trimble Inc. (NASDAQ:TRMB)

APG Asset Management N.V. raised its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 778.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,986 shares of the scientific and technical instruments company's stock after acquiring an additional 126,701 shares during the period. APG Asset Management N.V. owned 0.06% of Trimble worth $9,757,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TRMB. Bank of Nova Scotia increased its stake in shares of Trimble by 70.9% during the 4th quarter. Bank of Nova Scotia now owns 53,390 shares of the scientific and technical instruments company's stock worth $3,773,000 after purchasing an additional 22,142 shares during the last quarter. Southeast Asset Advisors LLC raised its position in Trimble by 4.7% during the 4th quarter. Southeast Asset Advisors LLC now owns 66,207 shares of the scientific and technical instruments company's stock worth $4,678,000 after purchasing an additional 2,964 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Trimble by 14.4% during the 4th quarter. Peapack Gladstone Financial Corp now owns 4,883 shares of the scientific and technical instruments company's stock valued at $345,000 after purchasing an additional 613 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Trimble by 40.9% in the fourth quarter. Russell Investments Group Ltd. now owns 298,749 shares of the scientific and technical instruments company's stock valued at $21,103,000 after purchasing an additional 86,752 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Trimble by 35.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 273,015 shares of the scientific and technical instruments company's stock valued at $19,291,000 after purchasing an additional 70,928 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related news, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction dated 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 owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock valued at $831,683 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

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

Trimble Stock Performance

NASDAQ TRMB traded down $1.12 on Wednesday, hitting $58.47. The stock had a trading volume of 304,984 shares, compared to its average volume of 1,389,387. The company's 50-day moving average is $67.75 and its two-hundred day moving average is $69.01. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 3.09 and a beta of 1.57. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78.

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.