Freshford Capital Management LLC Trims Stock Position in Trimble Inc. (NASDAQ:TRMB)

Freshford Capital Management LLC lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 523,280 shares of the scientific and technical instruments company's stock after selling 239,997 shares during the period. Trimble comprises about 10.5% of Freshford Capital Management LLC's holdings, making the stock its 3rd largest holding. Freshford Capital Management LLC owned approximately 0.21% of Trimble worth $36,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altrinsic Global Advisors LLC raised its position in Trimble by 0.7% in the 4th quarter. Altrinsic Global Advisors LLC now owns 197,450 shares of the scientific and technical instruments company's stock worth $13,952,000 after purchasing an additional 1,442 shares during the period. Quantessence Capital LLC purchased a new position in shares of Trimble in the fourth quarter worth about $393,000. Hsbc Holdings PLC lifted its stake in shares of Trimble by 4.5% in the 4th quarter. Hsbc Holdings PLC now owns 467,225 shares of the scientific and technical instruments company's stock valued at $33,022,000 after acquiring an additional 20,163 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Trimble during the 4th quarter valued at about $221,000. Finally, Stifel Financial Corp grew its position in Trimble by 7.8% during the 4th quarter. Stifel Financial Corp now owns 129,007 shares of the scientific and technical instruments company's stock worth $9,116,000 after acquiring an additional 9,323 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. This represents a 17.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TRMB. Oppenheimer boosted their price objective on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. StockNews.com lowered shares of Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday, March 3rd. Finally, Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target for the company in a research report on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $86.00.

Trimble Stock Performance

Shares of TRMB stock opened at $58.01 on Wednesday. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 3.09 and a beta of 1.57. The stock has a fifty day moving average of $66.14 and a 200 day moving average of $68.87. Trimble Inc. has a 52 week low of $48.65 and a 52 week 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.

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.

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