Assetmark Inc. Decreases Stake in Trimble Inc. (NASDAQ:TRMB)

Assetmark Inc. lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 76.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,740 shares of the scientific and technical instruments company's stock after selling 19,135 shares during the period. Assetmark Inc.'s holdings in Trimble were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRMB. Victory Capital Management Inc. grew its holdings in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company's stock worth $215,176,000 after purchasing an additional 3,589,249 shares during the last quarter. AQR Capital Management LLC increased its stake in Trimble by 2,035.1% in the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company's stock valued at $63,635,000 after purchasing an additional 1,093,275 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company's stock valued at $164,087,000 after buying an additional 516,789 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Trimble by 18.7% during the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company's stock worth $169,978,000 after buying an additional 434,065 shares during the period. Finally, Capital Group Private Client Services Inc. grew its holdings in shares of Trimble by 77.8% during the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company's stock worth $57,383,000 after buying an additional 390,171 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Down 0.2 %

Shares of TRMB stock traded down $0.12 during trading hours on Friday, reaching $70.62. The company had a trading volume of 1,155,009 shares, compared to its average volume of 1,148,225. The company has a market capitalization of $17.25 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 3.02 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a twelve month low of $42.56 and a twelve month high of $74.22. The stock's fifty day simple moving average is $62.12 and its 200 day simple moving average is $57.89.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TRMB shares. Oppenheimer reiterated an "outperform" rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Trimble from $66.00 to $74.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Sunday. Robert W. Baird lifted their price objective on Trimble from $66.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, Piper Sandler upped their price target on shares of Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.40.

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.