Assenagon Asset Management S.A. Decreases Holdings in Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 64.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 185,949 shares of the scientific and technical instruments company's stock after selling 335,825 shares during the period. Assenagon Asset Management S.A. owned approximately 0.08% of Trimble worth $13,139,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its stake in shares of Trimble by 722.2% during the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 520 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Trimble in the third quarter valued at $49,000. Friedenthal Financial purchased a new position in shares of Trimble in the 4th quarter valued at about $49,000. Cromwell Holdings LLC lifted its stake in Trimble by 86.6% during the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company's stock worth $50,000 after purchasing an additional 375 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in Trimble in the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Oppenheimer raised their target price on shares of Trimble from $77.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of 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. Sanford C. Bernstein upped their target price on shares of Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised Trimble from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $84.86.

Trimble Stock Performance

Shares of TRMB stock traded up $1.02 during trading hours on Friday, reaching $74.92. 1,010,657 shares of the company's stock were exchanged, compared to its average volume of 1,041,080. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The company's 50 day moving average is $72.27 and its two-hundred day moving average is $62.96. The company has a market cap of $18.30 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.52. Trimble Inc. has a 1 year low of $48.60 and a 1 year high of $76.97.

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.