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

Principal Financial Group Inc. raised its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 73.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677,217 shares of the scientific and technical instruments company's stock after purchasing an additional 285,907 shares during the quarter. Principal Financial Group Inc. owned 0.28% of Trimble worth $47,852,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TRMB. Creative Planning raised its holdings in shares of Trimble by 4.0% during the 3rd quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company's stock valued at $2,038,000 after buying an additional 1,277 shares during the period. Blue Trust Inc. raised its holdings in shares of Trimble by 93.9% during the 3rd quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company's stock valued at $77,000 after buying an additional 600 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Trimble by 78.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company's stock valued at $1,783,000 after buying an additional 12,660 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Trimble by 5.8% during 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 buying an additional 219 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Trimble by 6,109.0% during the 3rd quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company's stock valued at $1,029,000 after buying an additional 16,311 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and raised their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Sanford C. Bernstein lifted their price objective on Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Piper Sandler restated an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Wolfe Research upgraded Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a report on Monday, December 16th. Finally, Oppenheimer lifted their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $86.00.

Trimble Stock Performance

Shares of TRMB traded down $1.74 during mid-day trading on Friday, hitting $71.47. The stock had a trading volume of 1,852,430 shares, compared to its average volume of 1,323,335. The company has a market cap of $17.57 billion, a PE ratio of 11.74, a PEG ratio of 3.09 and a beta of 1.53. The company's fifty day simple moving average is $73.30 and its two-hundred day simple moving average is $66.28. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

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.