Korea Investment CORP Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

Korea Investment CORP increased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,969 shares of the scientific and technical instruments company’s stock after buying an additional 421 shares during the quarter. Korea Investment CORP owned about 0.05% of Trimble worth $8,901,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in Trimble by 10.2% during the 3rd quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock valued at $329,000 after purchasing an additional 489 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Trimble by 20.3% in the third quarter. The Manufacturers Life Insurance Company now owns 185,151 shares of the scientific and technical instruments company’s stock valued at $11,496,000 after buying an additional 31,286 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Trimble by 12.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,584 shares of the scientific and technical instruments company’s stock worth $657,000 after buying an additional 1,200 shares during the period. Captrust Financial Advisors raised its position in Trimble by 9.1% during the 3rd quarter. Captrust Financial Advisors now owns 63,309 shares of the scientific and technical instruments company’s stock worth $3,931,000 after buying an additional 5,302 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Trimble during the 3rd quarter worth approximately $4,481,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research report 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $86.00.

Trimble Trading Up 0.2 %

Shares of TRMB stock opened at $65.65 on Tuesday. The stock has a 50 day simple moving average of $71.96 and a 200-day simple moving average of $69.10. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Insiders Place Their Bets

In related news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,421 shares of company stock worth $831,683. Company insiders own 0.47% of the company’s stock.

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.