Trimble Inc. (NASDAQ:TRMB) Stake Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in Trimble Inc. (NASDAQ:TRMB) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,496,685 shares of the scientific and technical instruments company’s stock after selling 66,928 shares during the quarter. Trimble makes up 0.5% of Thrivent Financial for Lutherans’ portfolio, making the stock its 26th biggest holding. Thrivent Financial for Lutherans owned 1.42% of Trimble worth $247,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TRMB. TimesSquare Capital Management LLC bought a new position in Trimble during the fourth quarter valued at approximately $50,041,000. Charles Schwab Investment Management Inc. increased its stake in shares of Trimble by 49.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after purchasing an additional 676,954 shares during the last quarter. Sora Investors LLC bought a new position in shares of Trimble during the 3rd quarter valued at $22,663,000. Principal Financial Group Inc. lifted its stake in shares of Trimble by 73.1% in the 4th quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company’s stock valued at $47,852,000 after purchasing an additional 285,907 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its holdings in Trimble by 607.8% in the third quarter. Polar Asset Management Partners Inc. now owns 261,900 shares of the scientific and technical instruments company’s stock worth $16,261,000 after purchasing an additional 224,900 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analyst Ratings Changes

TRMB has been the topic of several recent research reports. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a report on Thursday, February 20th. Robert W. Baird raised their price objective on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Monday, December 16th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.00.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the sale, the vice president now owns 3,157 shares in the company, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,421 shares of company stock worth $831,683 in the last ninety days. Insiders own 0.47% of the company’s stock.

Trimble Trading Up 1.2 %

Shares of TRMB stock opened at $70.25 on Tuesday. The firm has a market capitalization of $17.27 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The firm’s fifty day simple moving average is $72.60 and its 200 day simple moving average is $68.11. 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 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.