Erste Asset Management GmbH Makes New $4.48 Million Investment in Trimble Inc. (NASDAQ:TRMB)

Erste Asset Management GmbH bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 72,692 shares of the scientific and technical instruments company’s stock, valued at approximately $4,481,000.

A number of other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. increased its stake 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 worth $24,296,000 after buying an additional 60,752 shares during the period. Magnetar Financial LLC purchased a new position in shares of Trimble during the second quarter worth approximately $1,752,000. Raymond James & Associates raised its stake in shares of 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 valued at $9,198,000 after acquiring an additional 35,841 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Trimble by 41.4% in the third 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 purchasing an additional 1,594,732 shares during the period. Finally, National Pension Service grew its stake in Trimble by 13,597.7% in the third quarter. National Pension Service now owns 23,971 shares of the scientific and technical instruments company’s stock worth $1,488,000 after purchasing an additional 23,796 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of Trimble stock opened at $73.08 on Tuesday. The company has a market capitalization of $17.85 billion, a PE ratio of 12.22, a P/E/G ratio of 3.12 and a beta of 1.53. The company has a 50-day simple moving average of $65.05 and a two-hundred day simple moving average of $58.92. Trimble Inc. has a one year low of $45.61 and a one year high of $74.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRMB. Piper Sandler lifted their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird increased their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

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.