Rialto Wealth Management LLC Buys Shares of 500 Trimble Inc. (NASDAQ:TRMB)

Rialto Wealth Management LLC purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 500 shares of the scientific and technical instruments company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 422 shares during the period. E Fund Management Co. Ltd. increased its holdings in shares of Trimble by 37.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 4,963 shares of the scientific and technical instruments company’s stock worth $351,000 after buying an additional 1,362 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trimble during the 4th quarter worth approximately $13,213,000. 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 during the period. Finally, Arizona State Retirement System lifted its holdings in Trimble by 1.4% in the fourth quarter. Arizona State Retirement System now owns 70,911 shares of the scientific and technical instruments company’s stock valued at $5,011,000 after acquiring an additional 945 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Sanford C. Bernstein raised 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. Piper Sandler reissued an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Wednesday, December 11th. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock 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 report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. 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, Trimble presently has an average rating of “Buy” and a consensus price target of $86.00.

Insider Buying and Selling

In related news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction on 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 transaction, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,571 shares of the company’s 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 owns 3,157 shares in the company, valued at approximately $235,985.75. This trade represents a 53.08 % 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 in the last ninety days. Company insiders own 0.47% of the company’s stock.

Trimble Stock Up 2.1 %

Shares of NASDAQ:TRMB opened at $69.06 on Monday. The firm has a market capitalization of $16.97 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The firm’s 50-day moving average is $72.94 and its two-hundred day moving average is $67.64.

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.