Covestor Ltd Boosts Stock Position in Trimble Inc. (NASDAQ:TRMB)

Covestor Ltd boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 460.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,272 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,045 shares during the quarter. Covestor Ltd’s holdings in Trimble were worth $90,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. raised its position in shares of Trimble by 0.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after buying an additional 141 shares in the last quarter. Essex Investment Management Co. LLC raised its position in Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock valued at $2,017,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of Trimble by 12.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 149 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Trimble by 1.6% in the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 156 shares during the period. Finally, Huntington National Bank increased its position in shares of Trimble by 10.4% during the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock valued at $125,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRMB. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Monday, December 16th. StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Oppenheimer upped their price target on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.00.

Trimble Stock Performance

Shares of NASDAQ:TRMB opened at $58.22 on Monday. The firm’s 50 day simple moving average is $68.38 and its 200-day simple moving average is $69.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The firm has a market cap of $14.31 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now 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.

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.