New Mexico Educational Retirement Board Cuts Stake in Trimble Inc. (NASDAQ:TRMB)

New Mexico Educational Retirement Board lowered its position in shares of Trimble Inc. (NASDAQ:TRMB) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,600 shares of the scientific and technical instruments company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Trimble were worth $820,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its stake in shares of Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 520 shares during the period. Friedenthal Financial acquired a new position in shares of Trimble during the 4th quarter worth $49,000. Mather Group LLC. grew its stake in shares of Trimble by 86.4% during the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 343 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Trimble during the 3rd quarter worth $49,000. Finally, Cromwell Holdings LLC grew its stake in shares of Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 375 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of recent analyst reports. Oppenheimer upped their price target on shares of Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Sanford C. Bernstein increased their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Robert W. Baird increased their price objective 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $84.86.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is owned by insiders.

Trimble Price Performance

NASDAQ:TRMB opened at $74.29 on Tuesday. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.14 and a beta of 1.53. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $73.32 and its two-hundred day moving average is $65.84. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78.

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.