Merit Financial Group LLC Acquires New Holdings in Trimble Inc. (NASDAQ:TRMB)

Merit Financial Group LLC bought a new position in Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, HoldingsChannel reports. The firm bought 8,523 shares of the scientific and technical instruments company’s stock, valued at approximately $602,000.

Several other hedge funds also recently bought and sold shares of TRMB. Victory Capital Management Inc. increased its position in shares of Trimble by 41.4% in the 3rd 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 in the last quarter. AQR Capital Management LLC increased its holdings in shares of Trimble by 2,035.1% in the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after acquiring an additional 1,093,275 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 period. Impax Asset Management Group plc grew its position in shares of Trimble by 18.7% in the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after purchasing an additional 434,065 shares during the period. Finally, Sora Investors LLC bought a new stake in Trimble during the 3rd quarter worth approximately $22,663,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRMB. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Sanford C. Bernstein boosted their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Monday, December 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Trimble presently has an average rating of “Buy” and an average target price of $84.86.

Trimble Trading Up 1.3 %

Shares of NASDAQ:TRMB opened at $77.40 on Thursday. The company’s 50-day moving average price is $72.46 and its two-hundred day moving average price is $63.39. Trimble Inc. has a one year low of $48.65 and a one year high of $77.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The stock has a market capitalization of $19.02 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 3.11 and a beta of 1.52.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company insiders.

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.