Cibc World Markets Corp Grows Position in Trimble Inc. (NASDAQ:TRMB)

Cibc World Markets Corp lifted its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,559 shares of the scientific and technical instruments company's stock after acquiring an additional 5,406 shares during the period. Cibc World Markets Corp's holdings in Trimble were worth $2,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TRMB. TimesSquare Capital Management LLC bought a new stake in shares of Trimble in the fourth quarter worth approximately $50,041,000. Charles Schwab Investment Management Inc. boosted its holdings in Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company's stock worth $127,692,000 after purchasing an additional 676,954 shares during the last quarter. Sora Investors LLC bought a new stake in Trimble in the 3rd quarter worth approximately $22,663,000. Principal Financial Group Inc. raised its stake in Trimble by 73.1% during the 4th quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company's stock valued at $47,852,000 after buying an additional 285,907 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of Trimble by 607.8% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 261,900 shares of the scientific and technical instruments company's stock valued at $16,261,000 after buying an additional 224,900 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on TRMB shares. Wolfe Research upgraded 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. Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Sanford C. Bernstein upped their price objective on Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Finally, Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Eight equities 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 an average rating of "Buy" and an average price target of $86.00.

Trimble Price Performance

Shares of NASDAQ TRMB traded down $1.59 during mid-day trading on Tuesday, reaching $70.48. The company's stock had a trading volume of 1,268,761 shares, compared to its average volume of 1,329,319. The stock has a fifty day moving average of $72.55 and a two-hundred day moving average of $68.65. The firm has a market capitalization of $17.32 billion, a PE ratio of 11.57, a P/E/G ratio of 3.09 and a beta of 1.57. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Insider Buying and Selling

In related news, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Over the last quarter, insiders sold 11,421 shares of company stock worth $831,683. 0.47% of the stock is owned by 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.