Skandinaviska Enskilda Banken AB publ Acquires 23,156 Shares of Trimble Inc. (NASDAQ:TRMB)

Skandinaviska Enskilda Banken AB publ raised its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 47.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,723 shares of the scientific and technical instruments company's stock after acquiring an additional 23,156 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Trimble were worth $5,051,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC bought a new stake in shares of Trimble in the third quarter valued at approximately $210,000. GSA Capital Partners LLP grew its position in Trimble by 27.1% in the 3rd quarter. GSA Capital Partners LLP now owns 10,477 shares of the scientific and technical instruments company's stock worth $651,000 after purchasing an additional 2,231 shares during the last quarter. Huntington National Bank increased its holdings in shares of Trimble by 48.7% during the 3rd quarter. Huntington National Bank now owns 1,601 shares of the scientific and technical instruments company's stock worth $99,000 after purchasing an additional 524 shares during the period. Metis Global Partners LLC raised its position in shares of Trimble by 7.5% during the third quarter. Metis Global Partners LLC now owns 20,814 shares of the scientific and technical instruments company's stock valued at $1,292,000 after buying an additional 1,451 shares during the last quarter. Finally, ING Groep NV lifted its stake in shares of Trimble by 272.8% in the third quarter. ING Groep NV now owns 32,661 shares of the scientific and technical instruments company's stock valued at $2,028,000 after buying an additional 23,900 shares during the period. Institutional investors own 93.21% of the company's stock.

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Insider Transactions at Trimble

In other news, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction 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 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 legal filing with the SEC, which is available through this link. Also, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction dated 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 sale, the vice president now owns 3,157 shares of the company's stock, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,421 shares of company stock worth $831,683. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TRMB. Sanford C. Bernstein upped their price target on Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research report on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. StockNews.com downgraded shares of Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised shares of Trimble from a "neutral" rating to an "overweight" rating and upped their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Trimble currently has a consensus rating of "Buy" and an average target price of $86.00.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $1.45 during mid-day trading on Wednesday, hitting $71.64. 2,041,608 shares of the stock were exchanged, compared to its average volume of 1,316,566. The company has a market cap of $17.61 billion, a P/E ratio of 11.76, a PEG 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. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock's fifty day simple moving average is $72.57 and its two-hundred day simple moving average is $68.21.

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.