AGF Management Ltd. Purchases 74,321 Shares of Trimble Inc. (NASDAQ:TRMB)

AGF Management Ltd. boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 768.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 83,990 shares of the scientific and technical instruments company’s stock after buying an additional 74,321 shares during the period. AGF Management Ltd.’s holdings in Trimble were worth $5,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRMB. TimesSquare Capital Management LLC purchased a new stake in Trimble during the 4th quarter valued at $50,041,000. Charles Schwab Investment Management Inc. increased its stake in Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after purchasing an additional 676,954 shares during the period. Impax Asset Management Group plc increased its stake 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. Sora Investors LLC purchased a new stake in Trimble in the third quarter worth $22,663,000. Finally, Principal Financial Group Inc. increased its stake in Trimble by 73.1% in the fourth quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company’s stock worth $47,852,000 after purchasing an additional 285,907 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of Trimble stock opened at $67.36 on Thursday. The firm has a market cap of $16.56 billion, a P/E ratio of 11.06, a P/E/G ratio of 3.09 and a beta of 1.57. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78. The stock’s fifty day moving average price is $72.71 and its 200-day moving average price is $67.78.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRMB. Robert W. Baird increased their target price on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Oppenheimer increased their target price on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. StockNews.com lowered Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Sanford C. Bernstein increased their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.00.

Insider Activity at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,421 shares of company stock valued at $831,683 over the last quarter. 0.47% of the stock is owned by corporate 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'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.