Quantinno Capital Management LP Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Quantinno Capital Management LP decreased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 28.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,617 shares of the scientific and technical instruments company’s stock after selling 3,456 shares during the period. Quantinno Capital Management LP’s holdings in Trimble were worth $535,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Trimble by 41.4% during the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after buying an additional 1,594,732 shares during the period. Thrivent Financial for Lutherans raised its holdings in Trimble by 7.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock valued at $203,976,000 after acquiring an additional 239,673 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after purchasing an additional 434,065 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Trimble by 49.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after purchasing an additional 676,954 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Trimble by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock valued at $102,842,000 after purchasing an additional 361,421 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Down 1.7 %

TRMB opened at $73.59 on Friday. The company has a market cap of $17.97 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. 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 $48.60 and a 1 year high of $76.97. The firm has a 50 day moving average price of $67.78 and a 200 day moving average price of $60.12.

Analyst Upgrades and Downgrades

TRMB has been the topic of several recent analyst reports. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Thursday. Oppenheimer increased their price objective on shares of Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday. Finally, Sanford C. Bernstein lifted their price target on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Trimble presently has an average rating of “Buy” and an average price target of $84.00.

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.