California Public Employees Retirement System Cuts Holdings in Trimble Inc. (NASDAQ:TRMB)

California Public Employees Retirement System decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 419,301 shares of the scientific and technical instruments company's stock after selling 35,585 shares during the period. California Public Employees Retirement System owned 0.17% of Trimble worth $29,628,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new position in Trimble during the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Trimble during the fourth quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in shares of Trimble during the fourth quarter valued at $36,000. TD Private Client Wealth LLC raised its position in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 520 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after purchasing an additional 422 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the sale, the vice president now owns 3,157 shares of the company's stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by corporate insiders.

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Trimble Stock Performance

TRMB traded down $0.90 during midday trading on Tuesday, reaching $55.12. The company had a trading volume of 1,697,672 shares, compared to its average volume of 1,384,750. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. 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 company has a market cap of $13.55 billion, a P/E ratio of 9.05, a P/E/G ratio of 3.09 and a beta of 1.57. The business has a 50-day moving average of $69.57 and a two-hundred day moving average of $69.07.

Analyst Upgrades and Downgrades

TRMB has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Cfra raised 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 lowered Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday, March 3rd. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Sanford C. Bernstein increased their price objective on Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $86.00.

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.