Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,355 shares of the scientific and technical instruments company's stock after selling 32,228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Trimble were worth $6,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TimesSquare Capital Management LLC bought a new stake in shares of Trimble during the 4th quarter valued at $50,041,000. Charles Schwab Investment Management Inc. lifted its position in Trimble by 49.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company's stock valued at $127,692,000 after acquiring an additional 676,954 shares during the period. Impax Asset Management Group plc boosted its stake in Trimble by 18.7% during 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 acquiring an additional 434,065 shares in the last quarter. Sora Investors LLC purchased a new stake in Trimble in the third quarter worth about $22,663,000. Finally, Principal Financial Group Inc. increased its stake in shares of Trimble by 73.1% during the fourth quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company's stock valued at $47,852,000 after purchasing an additional 285,907 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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Trimble Stock Performance

Shares of Trimble stock traded up $0.86 during trading on Monday, hitting $70.25. 2,284,236 shares of the company's stock traded hands, compared to its average volume of 1,310,095. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The business has a 50-day simple moving average of $72.62 and a 200-day simple moving average of $68.02. The stock has a market capitalization of $17.27 billion, a P/E ratio of 11.54, a PEG ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Wall Street Analysts Forecast Growth

TRMB has been the topic of a number of analyst reports. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a research report on Thursday, February 20th. Sanford C. Bernstein boosted their target price on Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. StockNews.com cut Trimble from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 3rd. Wolfe Research raised Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research report on Monday, December 16th. Finally, Oppenheimer increased their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus target price of $86.00.

Insider Buying and Selling at Trimble

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the transaction, the director now directly owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,571 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares of the company's stock, valued at $235,985.75. The trade was a 53.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,421 shares of company stock worth $831,683. Company insiders own 0.47% of the company's stock.

Trimble 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.