Cornerstone Capital Inc. Sells 47,090 Shares of Trimble Inc. (NASDAQ:TRMB)

Cornerstone Capital Inc. reduced its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,197 shares of the scientific and technical instruments company's stock after selling 47,090 shares during the period. Trimble comprises approximately 1.7% of Cornerstone Capital Inc.'s holdings, making the stock its 25th largest holding. Cornerstone Capital Inc. owned about 0.09% of Trimble worth $16,478,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. bought a new position in Trimble during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in Trimble during the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in Trimble in the fourth quarter worth approximately $36,000. Larson Financial Group LLC increased its holdings in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Trimble during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Activity

In other news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction that occurred on 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. This trade represents a 17.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

Trimble Stock Up 3.5 %

Shares of TRMB stock traded up $2.08 during trading hours on Thursday, reaching $61.59. The company had a trading volume of 559,940 shares, compared to its average volume of 1,398,288. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The business has a fifty day simple moving average of $65.84 and a 200-day simple moving average of $68.80. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TRMB shares. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a report on Thursday, February 20th. 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, StockNews.com lowered shares of Trimble from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 3rd. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus 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.