Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 73.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 681,578 shares of the scientific and technical instruments company’s stock after acquiring an additional 288,313 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.28% of Trimble worth $48,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allstate Corp acquired a new position in Trimble in the 4th quarter valued at $507,000. Orion Portfolio Solutions LLC increased its holdings in Trimble by 66.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 22,965 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after buying an additional 9,129 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Trimble by 15.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 144,823 shares of the scientific and technical instruments company’s stock valued at $10,233,000 after acquiring an additional 19,050 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Trimble by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 70,174 shares of the scientific and technical instruments company’s stock worth $4,958,000 after acquiring an additional 441 shares in the last quarter. Finally, Norges Bank purchased a new position in Trimble in the 4th quarter valued at approximately $190,391,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and issued a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Sanford C. Bernstein lifted their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Finally, Oppenheimer boosted their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.00.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction 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 sale, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,421 shares of company stock valued at $831,683. Insiders own 0.47% of the company’s stock.

Trimble Price Performance

TRMB stock opened at $65.38 on Wednesday. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The stock’s fifty day simple moving average is $71.74 and its 200-day simple moving average is $69.16.

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.