Cibc World Markets Corp Boosts Stock Position in Trimble Inc. (NASDAQ:TRMB)

Cibc World Markets Corp lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,559 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,406 shares during the quarter. Cibc World Markets Corp’s holdings in Trimble were worth $2,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRMB. Empowered Funds LLC grew its holdings in shares of Trimble by 3.4% in the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Trimble in the third quarter valued at $1,963,000. PNC Financial Services Group Inc. grew its holdings in shares of Trimble by 21.0% in the third quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company’s stock valued at $2,026,000 after purchasing an additional 5,660 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Trimble in the third quarter valued at $194,000. Finally, Intech Investment Management LLC grew its holdings in shares of Trimble by 10.2% in the third quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock valued at $329,000 after purchasing an additional 489 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Down 1.3 %

NASDAQ:TRMB opened at $70.68 on Friday. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The stock has a fifty day simple moving average of $72.51 and a 200-day simple moving average of $68.25. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Wolfe Research upgraded 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. Sanford C. Bernstein raised their price target on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Robert W. Baird raised their price target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $86.00.

Insider Transactions at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction dated Tuesday, February 25th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the sale, the director now owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,421 shares of company stock worth $831,683. 0.47% of the stock is currently owned by insiders.

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.