HighTower Advisors LLC Raises Holdings in Trimble Inc. (NASDAQ:TRMB)

Posted by Defense World Staff on May 23rd, 2023

HighTower Advisors LLC boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB – Get Rating) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,355 shares of the scientific and technical instruments company’s stock after buying an additional 1,390 shares during the quarter. HighTower Advisors LLC’s holdings in Trimble were worth $2,756,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. boosted its stake in Trimble by 3.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 119,730 shares of the scientific and technical instruments company’s stock valued at $6,054,000 after acquiring an additional 3,595 shares in the last quarter. Prudential PLC boosted its stake in Trimble by 160.0% in the fourth quarter. Prudential PLC now owns 15,004 shares of the scientific and technical instruments company’s stock valued at $759,000 after acquiring an additional 9,233 shares in the last quarter. Sentry Investment Management LLC boosted its stake in Trimble by 16.6% in the fourth quarter. Sentry Investment Management LLC now owns 1,656 shares of the scientific and technical instruments company’s stock valued at $84,000 after acquiring an additional 236 shares in the last quarter. FORA Capital LLC acquired a new stake in Trimble in the fourth quarter valued at approximately $239,000. Finally, Belpointe Asset Management LLC acquired a new stake in Trimble in the fourth quarter valued at approximately $36,000. 89.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 1,500 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $53.20, for a total transaction of $79,800.00. Following the completion of the transaction, the director now directly owns 1,936 shares in the company, valued at $102,995.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trimble news, Director James Calvin Dalton sold 1,500 shares of Trimble stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $53.20, for a total value of $79,800.00. Following the completion of the transaction, the director now owns 1,936 shares of the company’s stock, valued at $102,995.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter Large sold 950 shares of Trimble stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $51.11, for a total transaction of $48,554.50. Following the completion of the transaction, the senior vice president now directly owns 154 shares of the company’s stock, valued at approximately $7,870.94. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Trimble Trading Up 1.6 %

NASDAQ TRMB opened at $48.62 on Tuesday. The company has a market capitalization of $12.05 billion, a PE ratio of 26.00, a P/E/G ratio of 1.72 and a beta of 1.56. The company has a fifty day moving average of $48.49 and a 200 day moving average of $52.62. Trimble Inc. has a 1 year low of $45.43 and a 1 year high of $72.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.51 and a quick ratio of 1.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on TRMB shares. 888 restated a “maintains” rating on shares of Trimble in a research note on Thursday, May 4th. StockNews.com began coverage on shares of Trimble in a research note on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler lowered their price objective on shares of Trimble from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 9th. Robert W. Baird lowered their price objective on shares of Trimble from $63.00 to $59.00 in a research note on Thursday, May 4th. Finally, Edward Jones upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.00.

About Trimble

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Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.