Trimble Inc. (NASDAQ:TRMB) Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in Trimble Inc. (NASDAQ:TRMB) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,756 shares of the scientific and technical instruments company’s stock after selling 8,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Trimble were worth $10,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in Trimble by 229.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,408 shares of the scientific and technical instruments company’s stock worth $99,000 after buying an additional 981 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Trimble by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 37,343 shares of the scientific and technical instruments company’s stock worth $2,639,000 after acquiring an additional 1,632 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Trimble by 73.1% during the fourth quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company’s stock worth $47,852,000 after acquiring an additional 285,907 shares in the last quarter. Capital Performance Advisors LLP boosted its position in Trimble by 21.3% during the fourth quarter. Capital Performance Advisors LLP now owns 3,255 shares of the scientific and technical instruments company’s stock valued at $230,000 after purchasing an additional 572 shares during the last quarter. Finally, Nkcfo LLC purchased a new position in Trimble in the fourth quarter valued at about $212,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Trimble Stock Performance

NASDAQ:TRMB opened at $70.93 on Tuesday. The firm has a market capitalization of $17.43 billion, a PE ratio of 11.65, a PEG ratio of 3.09 and a beta of 1.53. 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 1 year low of $48.65 and a 1 year high of $77.78. The firm’s fifty day simple moving average is $73.23 and its 200 day simple moving average is $66.63.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of recent research reports. Sanford C. Bernstein raised their price target on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Trimble from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird raised their price target on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, 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. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.00.

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.