Chicago Partners Investment Group LLC Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

Chicago Partners Investment Group LLC acquired a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,042 shares of the scientific and technical instruments company’s stock, valued at approximately $293,000.

A number of other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. grew its position 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 worth $337,934,000 after acquiring an additional 1,594,732 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Trimble by 49.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after acquiring an additional 676,954 shares during the last quarter. Impax Asset Management Group plc lifted 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 acquiring an additional 434,065 shares in the last quarter. Sora Investors LLC acquired a new position in Trimble during the third quarter valued at $22,663,000. Finally, Assenagon Asset Management S.A. grew its position in Trimble by 132.0% during the third quarter. Assenagon Asset Management S.A. now owns 521,774 shares of the scientific and technical instruments company’s stock valued at $32,397,000 after purchasing an additional 296,893 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jennifer Allison sold 3,571 shares of the 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 sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TRMB. Robert W. Baird boosted their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein boosted their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Wolfe Research upgraded shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Monday, December 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $84.86.

Trimble Price Performance

TRMB stock opened at $74.35 on Wednesday. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The firm has a 50 day moving average price of $73.25 and a 200-day moving average price of $64.63. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 3.12 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 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.