Victory Capital Management Inc. Acquires 222,679 Shares of Trimble Inc. (NASDAQ:TRMB)

Victory Capital Management Inc. increased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,665,332 shares of the scientific and technical instruments company's stock after acquiring an additional 222,679 shares during the period. Victory Capital Management Inc. owned approximately 2.30% of Trimble worth $400,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Trimble in the fourth quarter valued at approximately $36,000. TD Private Client Wealth LLC boosted its holdings in Trimble by 722.2% during the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 520 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Trimble during the third quarter worth approximately $49,000. Friedenthal Financial bought a new stake in Trimble during the fourth quarter worth approximately $49,000. Finally, Mather Group LLC. boosted its holdings in Trimble by 86.4% during the fourth quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock worth $52,000 after buying an additional 343 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRMB has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Trimble from a "neutral" rating to an "overweight" rating and upped their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird raised their price target on shares of Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. StockNews.com downgraded shares of Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock in a research note on Thursday, February 20th. Finally, Wolfe Research upgraded shares of 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. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $86.00.

Insiders Place Their Bets

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,421 shares of company stock valued at $831,683. Insiders own 0.47% of the company's stock.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $1.04 during trading on Wednesday, reaching $69.49. The company had a trading volume of 2,160,333 shares, compared to its average volume of 1,292,193. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The stock has a market cap of $17.08 billion, a PE ratio of 11.41, a PEG ratio of 3.09 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The business'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.