Invesco Ltd. Reduces Stock Position in Trimble Inc. (NASDAQ:TRMB)

Invesco Ltd. decreased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,500,800 shares of the scientific and technical instruments company's stock after selling 406,825 shares during the period. Invesco Ltd. owned 1.42% of Trimble worth $247,367,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Trimble by 3.4% during the third quarter. Wellington Management Group LLP now owns 16,888 shares of the scientific and technical instruments company's stock worth $1,049,000 after acquiring an additional 551 shares during the period. National Bank of Canada FI boosted its position in shares of Trimble by 79.7% in the third quarter. National Bank of Canada FI now owns 129,522 shares of the scientific and technical instruments company's stock worth $8,042,000 after buying an additional 57,434 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Trimble by 0.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 69,733 shares of the scientific and technical instruments company's stock valued at $4,330,000 after buying an additional 624 shares during the period. Barclays PLC boosted its position in Trimble by 4.3% during the 3rd quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company's stock worth $46,151,000 after acquiring an additional 30,457 shares during the period. Finally, Vestcor Inc increased its holdings in shares of Trimble by 43.7% in the 3rd quarter. Vestcor Inc now owns 5,157 shares of the scientific and technical instruments company's stock valued at $320,000 after purchasing an additional 1,569 shares during the period. 93.21% of the stock is currently owned by institutional investors.

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Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 2,141 shares of the firm'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 of the company's stock, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by company insiders.

Trimble Trading Down 1.7 %

TRMB traded down $1.00 during trading on Wednesday, hitting $58.59. The company's stock had a trading volume of 286,969 shares, compared to its average volume of 1,389,285. The firm has a market capitalization of $14.40 billion, a P/E ratio of 9.62, a PEG ratio of 3.09 and a beta of 1.57. Trimble Inc. has a twelve month low of $48.65 and a twelve month 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. The stock's fifty day moving average price is $67.75 and its 200-day moving average price is $69.01.

Analyst Ratings Changes

TRMB has been the subject of several recent analyst reports. Oppenheimer upped their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a report on Thursday, February 20th. Finally, StockNews.com lowered Trimble from a "strong-buy" rating to a "buy" rating in a research note 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, Trimble presently has a consensus rating of "Buy" and a consensus price target 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.