Davidson Investment Advisors Cuts Stake in Trimble Inc. (NASDAQ:TRMB)

Davidson Investment Advisors lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 267,110 shares of the scientific and technical instruments company's stock after selling 16,849 shares during the period. Davidson Investment Advisors owned approximately 0.11% of Trimble worth $18,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in Trimble by 81.9% during the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company's stock worth $11,279,000 after purchasing an additional 71,891 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Trimble by 18.4% in the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company's stock worth $24,296,000 after buying an additional 60,752 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Trimble by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company's stock valued at $46,594,000 after acquiring an additional 136,452 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Trimble by 76.5% during the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company's stock valued at $2,496,000 after acquiring an additional 17,424 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in Trimble by 768.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company's stock worth $9,295,000 after acquiring an additional 132,467 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Trading Down 2.4 %

Shares of Trimble stock traded down $1.74 on Friday, hitting $71.47. The stock had a trading volume of 1,852,430 shares, compared to its average volume of 1,347,057. The stock's 50-day simple moving average is $73.30 and its two-hundred day simple moving average is $66.28. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The stock has a market cap of $17.57 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.17 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TRMB shares. Cfra raised 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. Piper Sandler reiterated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Oppenheimer raised 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. Wolfe Research upgraded Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research note on Monday, December 16th. Finally, Robert W. Baird raised their target price on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $86.00.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of the firm's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the sale, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.47% of the stock is currently owned by company insiders.

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.