Principal Financial Group Inc. Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

Principal Financial Group Inc. cut its position in Trimble Inc. (NASDAQ:TRMB) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,237 shares of the scientific and technical instruments company’s stock after selling 5,236 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Trimble worth $15,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Schonfeld Strategic Advisors LLC raised its position in shares of Trimble by 383.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after buying an additional 174,917 shares in the last quarter. Barclays PLC raised its position in shares of Trimble by 43.6% during the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock valued at $31,254,000 after buying an additional 176,139 shares in the last quarter. Truist Financial Corp raised its position in shares of Trimble by 56.7% during the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after buying an additional 14,074 shares in the last quarter. Hunter Associates Investment Management LLC raised its position in shares of Trimble by 51.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after buying an additional 13,899 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Trimble by 80.9% during the 4th quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after buying an additional 17,979 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trimble news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the sale, the senior vice president now owns 8,220 shares of the company’s stock, valued at approximately $485,802. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at approximately $485,802. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now directly owns 183,555 shares of the company’s stock, valued at $11,472,187.50. The disclosure for this sale can be found here. Insiders have sold a total of 9,093 shares of company stock valued at $564,872 in the last quarter. Insiders own 0.47% of the company’s stock.

Trimble Price Performance

Shares of Trimble stock opened at $56.87 on Friday. The firm has a market cap of $13.89 billion, a PE ratio of 59.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.51. Trimble Inc. has a 12-month low of $39.57 and a 12-month high of $65.55. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $60.08 and its two-hundred day simple moving average is $54.77.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TRMB shares. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Monday, May 6th. Raymond James reaffirmed an “outperform” rating and set a $65.00 target price on shares of Trimble in a report on Wednesday, May 15th. JPMorgan Chase & Co. increased their target price on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Robert W. Baird increased their target price on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

About Trimble

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.