PNC Financial Services Group Inc. Boosts Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

PNC Financial Services Group Inc. lifted its position in Trimble Inc. (NASDAQ:TRMB) by 21.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,631 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,660 shares during the period. PNC Financial Services Group Inc.’s holdings in Trimble were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Trimble by 18.4% during 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 acquiring an additional 60,752 shares in the last quarter. Swedbank AB acquired a new stake in Trimble in the first quarter valued at approximately $17,937,000. Janus Henderson Group PLC grew its holdings in Trimble by 26.6% in the first quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company’s stock valued at $3,845,000 after purchasing an additional 12,555 shares during the period. Magnetar Financial LLC acquired a new position in shares of Trimble during the 2nd quarter worth approximately $1,752,000. Finally, Raymond James & Associates lifted its position in shares of Trimble by 27.9% during the 2nd 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. Institutional investors and hedge funds own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird raised their price target on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, Piper Sandler lifted their price target on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trimble has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Stock Performance

NASDAQ:TRMB opened at $72.95 on Tuesday. The company’s 50-day moving average is $63.95 and its two-hundred day moving average is $58.49. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 3.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble Inc. has a 1-year low of $43.70 and a 1-year high of $74.22.

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.