CIBC Asset Management Inc Acquires 1,632 Shares of Trimble Inc. (NASDAQ:TRMB)

CIBC Asset Management Inc increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,343 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,632 shares during the period. CIBC Asset Management Inc’s holdings in Trimble were worth $2,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Creative Planning grew its stake in shares of Trimble by 4.0% in the 3rd quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock valued at $2,038,000 after purchasing an additional 1,277 shares during the period. Blue Trust Inc. boosted its stake in Trimble by 93.9% in the 3rd quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 600 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Trimble by 78.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company’s stock valued at $1,783,000 after acquiring an additional 12,660 shares during the period. Sequoia Financial Advisors LLC raised its stake in Trimble by 5.8% during the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after acquiring an additional 219 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Trimble by 6,109.0% during the third quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company’s stock valued at $1,029,000 after acquiring an additional 16,311 shares during the period. Institutional investors own 93.21% of the company’s stock.

Insider Activity

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

Trimble Stock Down 2.4 %

Shares of TRMB opened at $71.47 on Friday. The business’s fifty day moving average price is $73.30 and its two-hundred day moving average price is $66.28. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.17 and a beta of 1.53. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRMB. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a research note on Thursday. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Monday, December 16th. Finally, Sanford C. Bernstein lifted their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $86.00.

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.