Spectrum Strategic Capital Management LLC Makes New $212,000 Investment in Trimble Inc. (NASDAQ:TRMB)

Spectrum Strategic Capital Management LLC purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,000 shares of the scientific and technical instruments company’s stock, valued at approximately $212,000. Trimble comprises about 0.1% of Spectrum Strategic Capital Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors have also added to or reduced their stakes in TRMB. Geode Capital Management LLC increased its stake in shares of Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock valued at $364,984,000 after buying an additional 39,069 shares during the period. Victory Capital Management Inc. grew its holdings in Trimble by 41.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after acquiring an additional 1,594,732 shares during the last quarter. Impax Asset Management Group plc increased its position in Trimble by 18.7% in the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Trimble by 49.1% during the third 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 period. Finally, JPMorgan Chase & Co. grew its stake in shares of Trimble by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock worth $46,594,000 after purchasing an additional 136,452 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Down 1.9 %

Shares of NASDAQ TRMB opened at $75.96 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The stock has a market capitalization of $18.67 billion, a P/E ratio of 12.70, a P/E/G ratio of 3.21 and a beta of 1.52. The company has a 50-day moving average price of $72.86 and a 200-day moving average price of $63.90.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TRMB. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Monday, December 16th. Sanford C. Bernstein upped their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Robert W. Baird upped their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Oppenheimer lifted their target price on shares of Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Trimble presently has an average rating of “Buy” and a consensus target price of $84.86.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now directly 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 is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

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.