Stifel Financial Corp Reduces Stock Position in Trimble Inc. (NASDAQ:TRMB)

Stifel Financial Corp trimmed its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,684 shares of the scientific and technical instruments company's stock after selling 33,508 shares during the quarter. Stifel Financial Corp's holdings in Trimble were worth $7,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farrow Financial Inc. grew its holdings in shares of Trimble by 0.5% in the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company's stock valued at $2,425,000 after purchasing an additional 192 shares during the period. Empowered Funds LLC increased its stake in Trimble by 3.4% during the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company's stock worth $360,000 after acquiring an additional 193 shares during the last quarter. Profund Advisors LLC increased its stake in Trimble by 4.6% during the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company's stock worth $276,000 after acquiring an additional 219 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company's stock valued at $247,000 after purchasing an additional 219 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Trimble by 4.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company's stock worth $352,000 after purchasing an additional 237 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRMB shares. Sanford C. Bernstein boosted their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday. Robert W. Baird boosted their price target on shares of Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday. Oppenheimer increased 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. Piper Sandler reissued an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $84.00.

Trimble Stock Down 1.7 %

Shares of NASDAQ TRMB traded down $1.28 during mid-day trading on Friday, hitting $73.59. The company had a trading volume of 1,086,890 shares, compared to its average volume of 1,344,573. The company has a market capitalization of $17.97 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 3.16 and a beta of 1.53. The business's 50-day simple moving average is $67.78 and its 200 day simple moving average is $60.12. Trimble Inc. has a 1-year low of $48.60 and a 1-year high of $76.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07.

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.