Trimble Inc. (NASDAQ:TRMB) Position Trimmed by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its holdings in Trimble Inc. (NASDAQ:TRMB) by 25.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 179,942 shares of the scientific and technical instruments company’s stock after selling 62,697 shares during the period. Exchange Traded Concepts LLC’s holdings in Trimble were worth $12,715,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farrow Financial Inc. raised its stake in Trimble by 0.5% during the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock worth $2,425,000 after acquiring an additional 192 shares during the period. Empowered Funds LLC grew its holdings in shares of Trimble by 3.4% during the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares during the last quarter. Profund Advisors LLC raised its position in shares of Trimble by 4.6% during the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock worth $276,000 after purchasing an additional 219 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after purchasing an additional 219 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Trimble by 4.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock valued at $352,000 after purchasing an additional 237 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

NASDAQ TRMB opened at $77.20 on Friday. The firm has a market capitalization of $18.97 billion, a PE ratio of 12.93, a P/E/G ratio of 3.21 and a beta of 1.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.73. The company’s 50 day simple moving average is $72.60 and its 200 day simple moving average is $63.49.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

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.