DNB Asset Management AS lowered its stake in Trimble Inc (NASDAQ:TRMB) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,522 shares of the scientific and technical instruments company’s stock after selling 1,364 shares during the quarter. DNB Asset Management AS’s holdings in Trimble were worth $1,112,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of TRMB. Gateway Investment Advisers LLC grew its holdings in Trimble by 1.2% during the 1st quarter. Gateway Investment Advisers LLC now owns 343,915 shares of the scientific and technical instruments company’s stock valued at $13,894,000 after buying an additional 4,150 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Trimble by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 27,212 shares of the scientific and technical instruments company’s stock valued at $1,098,000 after buying an additional 720 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in Trimble during the 4th quarter valued at approximately $36,000. Geode Capital Management LLC grew its holdings in Trimble by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 2,660,376 shares of the scientific and technical instruments company’s stock valued at $87,497,000 after buying an additional 171,485 shares in the last quarter. Finally, Norges Bank purchased a new position in Trimble during the 4th quarter valued at approximately $74,528,000. 91.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Trimble stock traded up $0.03 on Friday, reaching $42.16. The company had a trading volume of 686,943 shares, compared to its average volume of 1,008,173. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 2.17 and a beta of 2.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 1.05. Trimble Inc has a 1 year low of $29.75 and a 1 year high of $44.55.
TRMB has been the subject of a number of recent research reports. ValuEngine upgraded Trimble from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Thursday, April 11th. Finally, BidaskClub upgraded Trimble from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.33.
In related news, VP Bryn Fosburgh sold 13,573 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $38.82, for a total transaction of $526,903.86. Following the completion of the transaction, the vice president now owns 9,562 shares in the company, valued at approximately $371,196.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven W. Berglund sold 100,000 shares of Trimble stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.15, for a total value of $4,215,000.00. Following the sale, the chief executive officer now directly owns 354,144 shares of the company’s stock, valued at $14,927,169.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 283,615 shares of company stock valued at $11,568,738. 0.39% of the stock is owned by company insiders.
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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.
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