Trimble Inc. (NASDAQ:TRMB) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Trimble Inc. (NASDAQ:TRMB) by 60.8% in the third quarter, Holdings Channel reports. The firm owned 127,583 shares of the scientific and technical instruments company’s stock after selling 198,121 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trimble were worth $7,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after acquiring an additional 60,752 shares in the last quarter. Janus Henderson Group PLC increased its stake in Trimble by 26.6% during the 1st quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company’s stock valued at $3,845,000 after purchasing an additional 12,555 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Trimble in the second quarter worth $1,752,000. Raymond James & Associates lifted its stake in shares of Trimble by 27.9% during the second quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock worth $9,198,000 after buying an additional 35,841 shares during the period. Finally, 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 acquiring an additional 1,594,732 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Performance

NASDAQ:TRMB opened at $72.97 on Monday. Trimble Inc. has a fifty-two week low of $45.61 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 fifty day moving average of $65.05 and a two-hundred day moving average of $58.91. The stock has a market capitalization of $17.82 billion, a PE ratio of 12.20, a P/E/G ratio of 3.12 and a beta of 1.49.

Wall Street Analyst Weigh In

A number of analysts have commented on TRMB shares. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler increased their price target on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Robert W. Baird upped their price objective on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

About Trimble

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.