Sumitomo Mitsui Trust Group Inc. Sells 340,532 Shares of Trimble Inc. (NASDAQ:TRMB)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,776,825 shares of the scientific and technical instruments company's stock after selling 340,532 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.96% of Trimble worth $296,593,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TRMB. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Trimble by 25.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company's stock valued at $19,057,000 after purchasing an additional 60,409 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Trimble by 11.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company's stock worth $15,960,000 after acquiring an additional 24,938 shares in the last quarter. Trustmark National Bank Trust Department purchased a new position in Trimble in the 1st quarter worth approximately $579,000. Swedbank AB acquired a new stake in Trimble in the first quarter valued at approximately $17,937,000. Finally, Janus Henderson Group PLC raised its stake in shares of Trimble by 26.6% during the first quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company's stock valued at $3,845,000 after purchasing an additional 12,555 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

NASDAQ:TRMB traded down $0.27 during midday trading on Tuesday, reaching $73.09. 606,413 shares of the company traded hands, compared to its average volume of 1,343,231. The company has a fifty day moving average price of $60.79 and a 200 day moving average price of $57.56. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88. Trimble Inc. has a twelve month low of $40.79 and a twelve month high of $74.21.

Analyst Ratings Changes

Several research analysts have recently weighed in on TRMB shares. Robert W. Baird upped their target price on shares of Trimble from $66.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Oppenheimer restated an "outperform" rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler lifted their target price on Trimble from $73.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered Trimble from a "buy" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Trimble presently has an average rating of "Moderate Buy" and an average target price of $75.40.

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.