State of Alaska Department of Revenue Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

State of Alaska Department of Revenue cut its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,845 shares of the scientific and technical instruments company's stock after selling 4,727 shares during the period. State of Alaska Department of Revenue's holdings in Trimble were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRMB. TD Private Client Wealth LLC grew its position in Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 520 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Trimble in the 3rd quarter valued at $49,000. Friedenthal Financial purchased a new position in Trimble in the 4th quarter valued at $49,000. Cromwell Holdings LLC grew its position in Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company's stock valued at $50,000 after buying an additional 375 shares during the last quarter. Finally, Mather Group LLC. grew its position in Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 343 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Wednesday, December 11th. Sanford C. Bernstein lifted their price objective 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. Robert W. Baird raised their target price on Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, StockNews.com raised Trimble from a "hold" rating to a "buy" rating in a report on Thursday, December 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $84.86.

Trimble Price Performance

Trimble stock traded up $0.63 during midday trading on Friday, reaching $74.29. The company's stock had a trading volume of 1,229,332 shares, compared to its average volume of 1,215,225. The firm has a market capitalization of $18.26 billion, a PE ratio of 12.42, a P/E/G ratio of 3.14 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. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The stock's 50 day simple moving average is $73.33 and its 200 day simple moving average is $65.61.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares of the company's stock, valued at $235,985.75. The trade was a 53.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate 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.