Nikko Asset Management Americas Inc. Sells 217,992 Shares of Trimble Inc. (NASDAQ:TRMB)

Nikko Asset Management Americas Inc. lowered its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,472,989 shares of the scientific and technical instruments company's stock after selling 217,992 shares during the period. Trimble makes up about 1.1% of Nikko Asset Management Americas Inc.'s portfolio, making the stock its 26th largest holding. Nikko Asset Management Americas Inc. owned approximately 0.60% of Trimble worth $104,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TRMB. Geode Capital Management LLC boosted its stake in shares of Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company's stock valued at $364,984,000 after buying an additional 39,069 shares during the period. Victory Capital Management Inc. lifted its position in shares of Trimble by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company's stock valued at $400,312,000 after acquiring an additional 222,679 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Trimble by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,080,628 shares of the scientific and technical instruments company's stock worth $147,017,000 after purchasing an additional 24,070 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 valued at $46,594,000 after purchasing an additional 136,452 shares in the last quarter. Finally, Barclays PLC lifted its position in Trimble by 4.3% during the third quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company's stock worth $46,151,000 after purchasing an additional 30,457 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have commented on TRMB. StockNews.com lowered shares of Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday, March 3rd. Wolfe Research upgraded Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 target price for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. raised Trimble from a "neutral" rating to an "overweight" rating and raised their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Piper Sandler reissued an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. Finally, Oppenheimer lifted their target price on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trimble currently has a consensus rating of "Buy" and a consensus price target of $86.00.

Trimble Trading Down 0.2 %

NASDAQ TRMB traded down $0.14 on Friday, reaching $70.54. The company had a trading volume of 3,049,939 shares, compared to its average volume of 1,327,043. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.09 and a beta of 1.57. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The business has a 50 day moving average of $72.51 and a two-hundred day moving average of $68.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Insider Activity

In other news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The stock was 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 legal filing with the SEC, which is accessible through this link. Also, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction dated 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. Over the last quarter, insiders sold 11,421 shares of company stock valued at $831,683. Company insiders own 0.47% of the company's stock.

Trimble Company Profile

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.