QRG Capital Management Inc. Buys Shares of 53,898 Trimble Inc. (NASDAQ:TRMB)

QRG Capital Management Inc. purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 53,898 shares of the scientific and technical instruments company’s stock, valued at approximately $3,808,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in Trimble by 41.4% in the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after purchasing an additional 1,594,732 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Trimble during the fourth quarter worth $50,041,000. Charles Schwab Investment Management Inc. grew its stake in shares of Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after buying an additional 676,954 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of 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 buying an additional 434,065 shares during the period. Finally, Sora Investors LLC acquired a new position in Trimble during the 3rd quarter worth about $22,663,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Trading Up 1.8 %

Shares of NASDAQ:TRMB opened at $71.98 on Friday. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company’s 50 day moving average is $73.22 and its two-hundred day moving average is $67.07. The company has a market cap of $17.69 billion, a PE ratio of 11.82, a P/E/G 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.

Insider Buying and Selling

In other news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,421 shares of company stock worth $831,683. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Wolfe Research upgraded shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Monday, December 16th. Robert W. Baird increased their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report 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. Finally, Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a research report on Thursday, February 20th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Trimble currently has a consensus rating of “Buy” and an average target price of $86.00.

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.