King Luther Capital Management Corp Sells 110,088 Shares of Trimble Inc. (NASDAQ:TRMB)

King Luther Capital Management Corp lowered its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,272,331 shares of the scientific and technical instruments company's stock after selling 110,088 shares during the period. Trimble comprises about 1.1% of King Luther Capital Management Corp's portfolio, making the stock its 22nd largest position. King Luther Capital Management Corp owned about 1.75% of Trimble worth $265,269,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Grandfield & Dodd LLC raised its position in shares of Trimble by 0.8% in the third quarter. Grandfield & Dodd LLC now owns 396,762 shares of the scientific and technical instruments company's stock valued at $24,635,000 after purchasing an additional 3,105 shares during the period. Advisors Asset Management Inc. purchased a new stake in Trimble during the third quarter valued at about $194,000. PNC Financial Services Group Inc. increased its stake in shares of Trimble by 21.0% in the third quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company's stock worth $2,026,000 after buying an additional 5,660 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Trimble during the third quarter valued at about $1,963,000. Finally, Claro Advisors LLC purchased a new position in Trimble during the 3rd quarter valued at about $237,000. 93.21% of the stock is owned by institutional investors.

Trimble Price Performance

NASDAQ:TRMB opened at $70.48 on Thursday. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The firm's fifty day moving average is $63.03 and its two-hundred day moving average is $58.15. Trimble Inc. has a one year low of $42.85 and a one year high of $74.22.

Analyst Ratings Changes

Several research analysts have issued reports on TRMB shares. Robert W. Baird lifted their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $66.00 to $74.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler increased their price target on Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. StockNews.com upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.40.

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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