Bank of New York Mellon Corp Has $122.26 Million Position in Trimble Inc. (NASDAQ:TRMB)

Bank of New York Mellon Corp cut its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,730,226 shares of the scientific and technical instruments company's stock after selling 214,518 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of Trimble worth $122,258,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its holdings in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 520 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Trimble in the 3rd quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Trimble during the 4th quarter worth approximately $49,000. Mather Group LLC. lifted its stake in shares of Trimble by 86.4% in the fourth quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock valued at $52,000 after purchasing an additional 343 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in shares of Trimble during the 3rd quarter valued at approximately $76,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TRMB shares. Sanford C. Bernstein lifted their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Robert W. Baird increased their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Wolfe Research raised Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Finally, StockNews.com lowered Trimble from a "strong-buy" rating to a "buy" rating in a research note on Monday. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $86.00.

Insider Transactions at Trimble

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is currently owned by corporate insiders.

Trimble Stock Performance

Shares of NASDAQ TRMB traded up $1.04 during midday trading on Wednesday, hitting $69.49. 2,160,333 shares of the company's stock were exchanged, compared to its average volume of 1,292,193. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The firm has a market cap of $17.08 billion, a P/E ratio of 11.41, a PEG ratio of 3.09 and a beta of 1.53. The stock's 50 day moving average price is $73.12 and its 200-day moving average price is $67.37.

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.