Norges Bank Makes New $190.39 Million Investment in Trimble Inc. (NASDAQ:TRMB)

Norges Bank bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,694,467 shares of the scientific and technical instruments company’s stock, valued at approximately $190,391,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC grew its stake in Trimble by 10.2% during the 3rd quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 489 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Trimble by 20.3% during the third quarter. The Manufacturers Life Insurance Company now owns 185,151 shares of the scientific and technical instruments company’s stock worth $11,496,000 after acquiring an additional 31,286 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Trimble by 12.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,584 shares of the scientific and technical instruments company’s stock valued at $657,000 after purchasing an additional 1,200 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in Trimble during the 3rd quarter valued at about $330,000. Finally, Captrust Financial Advisors grew its position in Trimble by 9.1% in the 3rd quarter. Captrust Financial Advisors now owns 63,309 shares of the scientific and technical instruments company’s stock worth $3,931,000 after purchasing an additional 5,302 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Monday, December 16th. Sanford C. Bernstein boosted their price target on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Robert W. Baird raised their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Oppenheimer upped their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $86.00.

Trimble Stock Performance

NASDAQ:TRMB opened at $65.52 on Monday. The company has a 50-day moving average of $72.15 and a 200-day moving average of $69.03. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the transaction, the director now owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock valued at $831,683 over the last ninety days. Insiders own 0.47% of the company’s stock.

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.