Trimble Inc. (NASDAQ:TRMB) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 391,310 shares of the scientific and technical instruments company's stock after purchasing an additional 60,752 shares during the quarter. Principal Financial Group Inc. owned about 0.16% of Trimble worth $24,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company's stock valued at $215,176,000 after purchasing an additional 3,589,249 shares in the last quarter. AQR Capital Management LLC boosted its position in Trimble by 2,035.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company's stock valued at $63,635,000 after acquiring an additional 1,093,275 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company's stock valued at $164,087,000 after acquiring an additional 516,789 shares during the period. Impax Asset Management Group plc raised its position in shares of Trimble by 18.7% in the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company's stock worth $169,978,000 after acquiring an additional 434,065 shares in the last quarter. Finally, Capital Group Private Client Services Inc. lifted its stake in shares of Trimble by 77.8% during the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company's stock worth $57,383,000 after purchasing an additional 390,171 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on TRMB shares. JPMorgan Chase & Co. lifted their target price on Trimble from $66.00 to $74.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Piper Sandler increased their target price on shares of Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, Oppenheimer reiterated an "outperform" rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $75.40.

Trimble Stock Performance

Trimble stock traded down $1.43 during mid-day trading on Thursday, reaching $71.18. 423,253 shares of the company traded hands, compared to its average volume of 1,342,545. Trimble Inc. has a fifty-two week low of $42.54 and a fifty-two week high of $74.22. The firm's fifty day moving average is $61.49 and its two-hundred day moving average is $57.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49.

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.