KLP Kapitalforvaltning AS Buys New Position in Trimble Inc. (NASDAQ:TRMB)

KLP Kapitalforvaltning AS acquired a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 145,276 shares of the scientific and technical instruments company's stock, valued at approximately $10,265,000. KLP Kapitalforvaltning AS owned 0.06% of Trimble at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TRMB. Rialto Wealth Management LLC acquired a new position in Trimble in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in Trimble in the fourth quarter valued at $36,000. TD Private Client Wealth LLC raised its position in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 520 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 422 shares during the period. Finally, Friedenthal Financial acquired a new position in Trimble during the 4th quarter worth about $49,000. Institutional investors own 93.21% of the company's stock.

Trimble Stock Down 3.6 %

NASDAQ TRMB traded down $2.46 on Friday, hitting $65.52. 1,409,556 shares of the company were exchanged, compared to its average volume of 1,370,798. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a market cap of $16.10 billion, a PE ratio of 10.76, a PEG ratio of 3.09 and a beta of 1.57. The stock has a fifty day moving average of $72.15 and a 200-day moving average of $68.83. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

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Insider Activity

In other 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 directly owns 10,162 shares of the company's stock, valued at $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at approximately $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,421 shares of company stock worth $831,683. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRMB. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Sanford C. Bernstein raised their price target on shares of Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Trimble from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Wolfe Research upgraded shares of Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective for the company in a research report on Monday, December 16th. Finally, Robert W. Baird boosted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trimble 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.