Primecap Management Co. CA Sells 103,510 Shares of Trimble Inc. (NASDAQ:TRMB)

Primecap Management Co. CA trimmed its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,425,156 shares of the scientific and technical instruments company's stock after selling 103,510 shares during the quarter. Primecap Management Co. CA owned approximately 1.80% of Trimble worth $312,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRMB. Cullen Frost Bankers Inc. raised its holdings in Trimble by 0.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock valued at $1,623,000 after acquiring an additional 141 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Trimble by 0.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock valued at $2,017,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. grew its holdings in Trimble by 12.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock valued at $93,000 after buying an additional 149 shares in the last quarter. M&T Bank Corp increased its position in shares of Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock valued at $717,000 after buying an additional 156 shares during the period. Finally, SYM FINANCIAL Corp lifted its holdings in shares of Trimble by 4.4% in the fourth quarter. SYM FINANCIAL Corp now owns 4,099 shares of the scientific and technical instruments company's stock worth $290,000 after buying an additional 172 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

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Insider Activity

In other news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 3,157 shares of the company's stock, valued at approximately $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,421 shares of company stock valued at $831,683. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TRMB shares. StockNews.com cut shares of Trimble from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 3rd. Robert W. Baird lifted their price objective on Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Wolfe Research upgraded Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 target price on the stock in a research note on Monday, December 16th. Oppenheimer lifted their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a research report on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $86.00.

Trimble Price Performance

TRMB traded down $0.14 during midday trading on Friday, hitting $70.54. The stock had a trading volume of 3,049,939 shares, compared to its average volume of 1,327,043. The company has a market cap of $17.34 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The business has a fifty day moving average of $72.51 and a 200 day moving average of $68.25. 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 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.