Primecap Management Co. CA Trims Stock Position in Trimble Inc. (NASDAQ:TRMB)

Primecap Management Co. CA cut its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,528,666 shares of the scientific and technical instruments company’s stock after selling 155,200 shares during the period. Primecap Management Co. CA’s holdings in Trimble were worth $281,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC raised its stake in Trimble by 10.2% during the 3rd quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock valued at $329,000 after acquiring an additional 489 shares during the last quarter. Grandfield & Dodd LLC raised its stake in shares of Trimble by 0.8% during the 3rd quarter. Grandfield & Dodd LLC now owns 396,762 shares of the scientific and technical instruments company’s stock worth $24,635,000 after buying an additional 3,105 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Trimble during the 3rd quarter worth approximately $194,000. PNC Financial Services Group Inc. raised its stake in shares of Trimble by 21.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company’s stock worth $2,026,000 after buying an additional 5,660 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Trimble during the 3rd quarter worth approximately $1,963,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TRMB. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Sunday. Piper Sandler increased their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $70.48 on Thursday. The business’s fifty day moving average price is $63.03 and its two-hundred day moving average price is $58.15. The stock has a market cap of $17.21 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a one year low of $42.85 and a one year high of $74.22.

About Trimble

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.