Envestnet Asset Management Inc. Purchases 70,928 Shares of Trimble Inc. (NASDAQ:TRMB)

Envestnet Asset Management Inc. boosted its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 35.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 273,015 shares of the scientific and technical instruments company's stock after purchasing an additional 70,928 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of Trimble worth $19,291,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. KBC Group NV boosted its holdings in shares of Trimble by 81.9% in 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 buying an additional 71,891 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 worth $46,594,000 after purchasing an additional 136,452 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Trimble by 5.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock valued at $26,560,000 after buying an additional 17,785 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Trimble by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock worth $1,580,000 after acquiring an additional 5,472 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in Trimble during the fourth quarter worth approximately $406,000. Institutional investors own 93.21% of the company's stock.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Trimble Stock Performance

Trimble stock traded down $0.05 during mid-day trading on Friday, hitting $58.23. 1,252,181 shares of the company's stock traded hands, compared to its average volume of 1,396,295. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The firm has a 50 day simple moving average of $67.11 and a two-hundred day simple moving average of $68.91.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of recent research reports. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research note on Thursday, February 20th. Oppenheimer lifted 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Trimble currently has an average 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.