Beacon Investment Advisory Services Inc. Reduces Position in Trimble Inc. (NASDAQ:TRMB)

Beacon Investment Advisory Services Inc. trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,525 shares of the scientific and technical instruments company’s stock after selling 1,650 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Trimble were worth $2,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of Trimble during the fourth quarter valued at approximately $596,000. Westside Investment Management Inc. lifted its stake in shares of Trimble by 1.2% during the 4th quarter. Westside Investment Management Inc. now owns 20,552 shares of the scientific and technical instruments company’s stock worth $1,452,000 after acquiring an additional 247 shares during the last quarter. Genesis Private Wealth LLC purchased a new position in Trimble during the 4th quarter valued at $203,000. Simon Quick Advisors LLC grew its position in Trimble by 34.1% in the 4th quarter. Simon Quick Advisors LLC now owns 13,634 shares of the scientific and technical instruments company’s stock valued at $963,000 after acquiring an additional 3,465 shares during the last quarter. Finally, Lmcg Investments LLC purchased a new stake in Trimble in the fourth quarter worth $3,283,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of TRMB opened at $77.40 on Thursday. The stock has a market capitalization of $19.02 billion, a PE ratio of 12.94, a PEG ratio of 3.17 and a beta of 1.52. The company has a 50 day moving average price of $72.46 and a 200-day moving average price of $63.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.73.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the transaction, the vice president now owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TRMB shares. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Monday, December 16th. Finally, Sanford C. Bernstein increased their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $84.86.

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.