Wellington Management Group LLP Acquires 551 Shares of Trimble Inc. (NASDAQ:TRMB)

Wellington Management Group LLP increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,888 shares of the scientific and technical instruments company’s stock after acquiring an additional 551 shares during the period. Wellington Management Group LLP’s holdings in Trimble were worth $1,049,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TRMB. Farrow Financial Inc. boosted its holdings in Trimble by 0.5% during the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after purchasing an additional 192 shares in the last quarter. Empowered Funds LLC boosted 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 valued at $360,000 after buying an additional 193 shares in the last quarter. Profund Advisors LLC grew its position in Trimble by 4.6% in the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after acquiring an additional 219 shares during the period. Sequoia Financial Advisors LLC raised its stake in Trimble by 5.8% during the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after acquiring an additional 219 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Trimble by 4.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock valued at $352,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of Trimble stock opened at $70.74 on Friday. Trimble Inc. has a 52 week low of $48.60 and a 52 week high of $76.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.15 and a beta of 1.53. The firm has a fifty day moving average of $68.61 and a two-hundred day moving average of $60.55.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of 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 report on Wednesday, December 4th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird lifted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Finally, Oppenheimer lifted their price objective on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $84.86.

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.