Primecap Management Co. CA Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Primecap Management Co. CA lessened its position in Trimble Inc. (NASDAQ:TRMB) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,528,666 shares of the scientific and technical instruments company’s stock after selling 155,200 shares during the quarter. Primecap Management Co. CA owned approximately 1.85% of Trimble worth $281,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TRMB. GPS Wealth Strategies Group LLC raised its holdings in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the period. Blue Trust Inc. grew its stake in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 313 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Trimble during the 2nd quarter worth $48,000. Catalyst Capital Advisors LLC acquired a new position in Trimble during the 3rd quarter worth $49,000. Finally, Cromwell Holdings LLC grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 1.2 %

Trimble stock opened at $70.48 on Thursday. Trimble Inc. has a fifty-two week low of $42.85 and a fifty-two week high of $74.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The company has a market capitalization of $17.21 billion, a P/E ratio of 11.79, a PEG ratio of 2.98 and a beta of 1.49. The stock has a 50-day simple moving average of $63.03 and a 200-day simple moving average of $58.15.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Sunday. Robert W. Baird boosted their target price on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler boosted their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.