Illinois Municipal Retirement Fund Acquires 6,699 Shares of Trimble Inc. (NASDAQ:TRMB)

Illinois Municipal Retirement Fund lifted its position in Trimble Inc. (NASDAQ:TRMB) by 43.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,222 shares of the scientific and technical instruments company’s stock after buying an additional 6,699 shares during the period. Illinois Municipal Retirement Fund’s holdings in Trimble were worth $1,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC grew its position in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Trimble in the 4th quarter worth approximately $49,000. Mather Group LLC. grew its position in shares of Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock worth $52,000 after buying an additional 343 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the 3rd quarter worth approximately $49,000. Finally, Sentry Investment Management LLC purchased a new position in shares of Trimble in the 3rd quarter worth approximately $76,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 1.8 %

TRMB stock opened at $71.98 on Friday. The firm’s fifty day simple moving average is $73.22 and its 200-day simple moving average is $67.07. The company has a market capitalization of $17.69 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 3.09 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,421 shares of company stock valued at $831,683 in the last ninety days. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Oppenheimer boosted their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $86.00.

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.