Trimble Inc. (NASDAQ:TRMB) Shares Acquired by State Street Corp

State Street Corp increased its holdings in Trimble Inc. (NASDAQ:TRMB) by 0.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,468,330 shares of the scientific and technical instruments company’s stock after acquiring an additional 559 shares during the quarter. State Street Corp’s holdings in Trimble were worth $649,979,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Trimble by 18.4% during the third 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 buying an additional 60,752 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Trimble during the second quarter valued at approximately $1,752,000. Raymond James & Associates raised its stake 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 valued at $9,198,000 after buying an additional 35,841 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Trimble by 76.5% during the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after buying an additional 17,424 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Trimble by 41.4% during 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 buying an additional 1,594,732 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TRMB shares. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price objective on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Trimble Stock Down 0.7 %

Shares of Trimble stock opened at $74.86 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $66.54 and its 200-day simple moving average is $59.53. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 3.22 and a beta of 1.53. Trimble Inc. has a twelve month low of $46.06 and a twelve month high of $76.97.

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.