Swedbank AB Trims Stock Position in Trimble Inc. (NASDAQ:TRMB)

Swedbank AB trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 0.7% in the third quarter, Holdings Channel reports. The firm owned 273,575 shares of the scientific and technical instruments company’s stock after selling 1,958 shares during the period. Swedbank AB’s holdings in Trimble were worth $16,986,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Penserra Capital Management LLC increased its stake in shares of Trimble by 5.9% during the third quarter. Penserra Capital Management LLC now owns 29,267 shares of the scientific and technical instruments company’s stock worth $1,816,000 after buying an additional 1,623 shares during the period. Cerity Partners LLC raised its position in shares of Trimble by 79.0% in the third quarter. Cerity Partners LLC now owns 70,429 shares of the scientific and technical instruments company’s stock valued at $4,373,000 after buying an additional 31,094 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of Trimble by 16.0% during the 3rd quarter. Raymond James Trust N.A. now owns 4,991 shares of the scientific and technical instruments company’s stock worth $310,000 after purchasing an additional 690 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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 buying an additional 676,954 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Trimble by 10.2% in the third quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock worth $329,000 after acquiring an additional 489 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRMB shares. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Monday. Piper Sandler upped their price objective on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird upped their price objective on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Trimble currently has an average rating of “Moderate Buy” and an average price target of $75.40.

Trimble Stock Down 0.8 %

TRMB opened at $72.37 on Wednesday. The stock has a market cap of $17.67 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $63.95 and its 200 day simple moving average is $58.49. Trimble Inc. has a 1-year low of $43.70 and a 1-year high of $74.22.

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.