Pinebridge Investments L.P. Sells 331,947 Shares of Trimble Inc. (NASDAQ:TRMB)

Pinebridge Investments L.P. lessened its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 68.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,641 shares of the scientific and technical instruments company's stock after selling 331,947 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Trimble worth $10,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in Trimble in the 4th quarter valued at about $190,391,000. Boston Partners lifted its stake in shares of Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after buying an additional 2,312,937 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Trimble in the 4th quarter worth approximately $50,041,000. JPMorgan Chase & Co. grew its stake in Trimble by 69.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after buying an additional 520,980 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Trimble by 1,064.6% during the 4th quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company's stock valued at $32,257,000 after acquiring an additional 417,313 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRMB. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a research note on Thursday, February 20th. StockNews.com cut Trimble from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, Oppenheimer raised their price objective on shares of 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $86.00.

Insider Activity

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Trimble Price Performance

TRMB traded up $0.06 on Friday, reaching $61.71. The company had a trading volume of 844,042 shares, compared to its average volume of 1,401,590. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The business has a 50 day simple moving average of $65.32 and a 200 day simple moving average of $68.85.

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.