Sumitomo Mitsui Trust Group Inc. Cuts Position in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,643,391 shares of the scientific and technical instruments company's stock after selling 133,434 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.89% of Trimble worth $328,102,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV raised its holdings in Trimble by 81.9% in the 4th quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company's stock worth $11,279,000 after purchasing an additional 71,891 shares in the last quarter. Principal Financial Group Inc. raised its stake in Trimble by 18.4% in the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company's stock worth $24,296,000 after buying an additional 60,752 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trimble by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company's stock valued at $46,594,000 after acquiring an additional 136,452 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Trimble by 76.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company's stock worth $2,496,000 after acquiring an additional 17,424 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Trimble by 768.5% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company's stock worth $9,295,000 after acquiring an additional 132,467 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Analysts Set New Price Targets

TRMB has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Trimble from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird boosted their price target on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Sanford C. Bernstein raised their price objective on Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Oppenheimer boosted their target price on Trimble from $77.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Finally, Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $84.86.

Trimble Trading Down 0.7 %

TRMB traded down $0.53 during trading on Tuesday, reaching $73.83. The company had a trading volume of 830,703 shares, compared to its average volume of 1,253,159. The business has a 50 day simple moving average of $73.41 and a 200-day simple moving average of $65.28. The stock has a market cap of $18.15 billion, a P/E ratio of 12.35, a PEG ratio of 3.14 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the firm's 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 transaction, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.