Principal Financial Group Inc. Acquires 60,752 Shares of Trimble Inc. (NASDAQ:TRMB)

Principal Financial Group Inc. grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 18.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 391,310 shares of the scientific and technical instruments company's stock after acquiring an additional 60,752 shares during the quarter. Principal Financial Group Inc. owned about 0.16% of Trimble worth $24,296,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Raymond James Trust N.A. raised its position in shares of Trimble by 16.4% in the 2nd quarter. Raymond James Trust N.A. now owns 4,301 shares of the scientific and technical instruments company's stock valued at $241,000 after buying an additional 606 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Trimble by 10.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,061 shares of the scientific and technical instruments company's stock valued at $898,000 after purchasing an additional 1,489 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trimble by 50.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 325,704 shares of the scientific and technical instruments company's stock worth $18,213,000 after buying an additional 109,602 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Trimble by 68.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 400,052 shares of the scientific and technical instruments company's stock worth $22,371,000 after buying an additional 163,048 shares in the last quarter. Finally, Davidson Investment Advisors lifted its position in shares of Trimble by 19.4% during the 2nd quarter. Davidson Investment Advisors now owns 277,740 shares of the scientific and technical instruments company's stock worth $15,531,000 after buying an additional 45,088 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Trading Up 0.6 %

Shares of NASDAQ TRMB traded up $0.43 during midday trading on Thursday, reaching $72.30. The stock had a trading volume of 500,468 shares, compared to its average volume of 1,344,495. Trimble Inc. has a twelve month low of $48.60 and a twelve month high of $76.97. The company's 50 day moving average price is $69.58 and its 200 day moving average price is $61.14. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TRMB. Robert W. Baird boosted their target price on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Oppenheimer upped their price objective on shares of Trimble from $77.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Sanford C. Bernstein raised their target price on shares of Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. StockNews.com raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Thursday, December 12th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $84.86.

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.