BNP Paribas Financial Markets Cuts Stake in Trimble Inc. (NASDAQ:TRMB)

BNP Paribas Financial Markets trimmed its stake in Trimble Inc. (NASDAQ:TRMB) by 12.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,117 shares of the scientific and technical instruments company’s stock after selling 31,283 shares during the quarter. BNP Paribas Financial Markets’ holdings in Trimble were worth $13,543,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew 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 valued at $24,296,000 after buying an additional 60,752 shares during the period. Janus Henderson Group PLC increased its stake in Trimble by 26.6% during the first quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company’s stock worth $3,845,000 after acquiring an additional 12,555 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Trimble in the 2nd quarter worth about $1,752,000. Raymond James & Associates lifted its stake in shares of Trimble by 27.9% in 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 purchasing an additional 35,841 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Trimble by 41.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after purchasing an additional 1,594,732 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TRMB shares. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird increased their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Piper Sandler boosted their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. raised their target price on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Trimble Stock Up 0.7 %

Shares of NASDAQ TRMB opened at $72.97 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a 1 year low of $45.61 and a 1 year high of $74.22. The stock’s 50-day simple moving average is $65.05 and its 200-day simple moving average is $58.91. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 3.12 and a beta of 1.49.

Trimble 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.