Sora Investors LLC Invests $22.66 Million in Trimble Inc. (NASDAQ:TRMB)

Sora Investors LLC acquired a new stake in Trimble Inc. (NASDAQ:TRMB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 365,000 shares of the scientific and technical instruments company’s stock, valued at approximately $22,663,000. Trimble accounts for about 4.0% of Sora Investors LLC’s portfolio, making the stock its 4th largest holding. Sora Investors LLC owned approximately 0.15% of Trimble as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Principal Financial Group Inc. lifted its position in Trimble by 18.4% in the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after acquiring an additional 60,752 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Trimble during the second quarter valued at approximately $1,752,000. Raymond James & Associates grew its holdings in Trimble by 27.9% during the second quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock worth $9,198,000 after buying an additional 35,841 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Trimble by 41.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after acquiring an additional 1,594,732 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Trimble by 13,597.7% in the 3rd quarter. National Pension Service now owns 23,971 shares of the scientific and technical instruments company’s stock worth $1,488,000 after acquiring an additional 23,796 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler lifted their price target on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, November 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 report on Friday, November 8th. Finally, JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $92.00 in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.00.

Trimble Stock Performance

NASDAQ:TRMB opened at $75.40 on Friday. Trimble Inc. has a 52-week low of $46.06 and a 52-week high of $76.97. The business’s fifty day moving average is $66.27 and its 200 day moving average is $59.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The firm has a market cap of $18.41 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 3.16 and a beta of 1.53.

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.