Trimble Inc. (NASDAQ:TRMB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Trimble Inc. (NASDAQ:TRMB) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 391,310 shares of the scientific and technical instruments company’s stock after acquiring an additional 60,752 shares during the period. Principal Financial Group Inc. owned about 0.16% of Trimble worth $24,296,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after buying an additional 3,589,249 shares during the period. AQR Capital Management LLC grew its stake in shares of Trimble by 2,035.1% in the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after purchasing an additional 1,093,275 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares during the period. Impax Asset Management Group plc lifted its holdings in Trimble by 18.7% in the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after purchasing an additional 434,065 shares during the period. Finally, Capital Group Private Client Services Inc. lifted its holdings in Trimble by 77.8% in the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock worth $57,383,000 after purchasing an additional 390,171 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

TRMB opened at $72.61 on Thursday. The business has a fifty day simple moving average of $61.49 and a 200-day simple moving average of $57.75. The firm has a market cap of $17.73 billion, a PE ratio of 12.14, a P/E/G ratio of 3.24 and a beta of 1.49. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. Trimble Inc. has a fifty-two week low of $41.42 and a fifty-two week high of $74.22.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRMB. Robert W. Baird upped their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler boosted their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

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.