Citigroup Inc. Lowers Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Citigroup Inc. decreased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 18.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 238,602 shares of the scientific and technical instruments company’s stock after selling 55,148 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Trimble worth $14,815,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Farrow Financial Inc. lifted its stake in Trimble by 0.5% in the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock worth $2,425,000 after purchasing an additional 192 shares in the last quarter. Empowered Funds LLC lifted its stake in Trimble by 3.4% in the 3rd quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock worth $360,000 after purchasing an additional 193 shares in the last quarter. SVB Wealth LLC lifted its stake in Trimble by 4.8% in the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after purchasing an additional 204 shares in the last quarter. Profund Advisors LLC lifted its stake in Trimble by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock worth $276,000 after purchasing an additional 219 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Trimble stock opened at $72.43 on Thursday. 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 $44.05 and a 1-year high of $74.22. The firm has a market capitalization of $17.69 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 3.12 and a beta of 1.49. The company’s 50-day moving average is $64.23 and its 200 day moving average is $58.60.

Wall Street Analyst Weigh In

TRMB has been the topic of several research analyst reports. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer restated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler upped their target price on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their target price on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

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'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.