Victory Capital Management Inc. Has $337.93 Million Stake in Trimble Inc. (NASDAQ:TRMB)

Victory Capital Management Inc. lifted its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 41.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,442,653 shares of the scientific and technical instruments company's stock after purchasing an additional 1,594,732 shares during the quarter. Victory Capital Management Inc. owned 2.23% of Trimble worth $337,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TRMB. AQR Capital Management LLC lifted its holdings in shares of 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 buying an additional 1,093,275 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company's stock worth $164,087,000 after purchasing an additional 516,789 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Trimble by 18.7% in the third 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 buying an additional 434,065 shares during the last quarter. Capital Group Private Client Services Inc. boosted its position in Trimble by 77.8% during the first 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 period. Finally, Dimensional Fund Advisors LP grew its stake in Trimble by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company's stock valued at $102,842,000 after buying an additional 361,421 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Performance

Shares of TRMB traded down $0.55 on Tuesday, reaching $72.81. 1,286,990 shares of the stock traded hands, compared to its average volume of 1,346,336. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 3.23 and a beta of 1.49. Trimble Inc. has a 12 month low of $40.79 and a 12 month high of $74.22. The stock's 50-day moving average price is $61.15 and its 200-day moving average price is $57.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TRMB. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a report on Saturday. JPMorgan Chase & Co. increased 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. Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird increased their price objective on Trimble from $66.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Piper Sandler boosted their target price on shares of Trimble from $73.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.40.

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.