Trimble Inc. (NASDAQ:TRMB) Holdings Lowered by MQS Management LLC

MQS Management LLC trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 11.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,035 shares of the scientific and technical instruments company’s stock after selling 801 shares during the period. MQS Management LLC’s holdings in Trimble were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TRMB. Envestnet Portfolio Solutions Inc. bought a new position in Trimble during the first quarter valued at about $215,000. Empowered Funds LLC increased its stake in Trimble by 15.1% in the first quarter. Empowered Funds LLC now owns 5,145 shares of the scientific and technical instruments company’s stock valued at $331,000 after acquiring an additional 675 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Trimble by 8.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 319,597 shares of the scientific and technical instruments company’s stock worth $20,569,000 after buying an additional 25,001 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Trimble by 25.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after purchasing an additional 60,409 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Trimble during the first quarter worth approximately $1,255,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Trading Down 2.6 %

Shares of Trimble stock opened at $70.74 on Friday. The stock has a market cap of $17.28 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.49. The firm has a fifty day moving average price of $61.79 and a 200 day moving average price of $57.84. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble Inc. has a 1 year low of $42.54 and a 1 year high of $74.22.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRMB. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler raised their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Robert W. Baird increased their price objective on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

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.