Trimble Inc. (NASDAQ:TRMB) Stake Reduced by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,139 shares of the scientific and technical instruments company’s stock after selling 794 shares during the period. Sumitomo Life Insurance Co.’s holdings in Trimble were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TRMB. American Century Companies Inc. boosted its holdings in Trimble by 27.9% during the second quarter. American Century Companies Inc. now owns 16,067 shares of the scientific and technical instruments company’s stock worth $898,000 after buying an additional 3,507 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Trimble by 65.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,384 shares of the scientific and technical instruments company’s stock worth $525,000 after acquiring an additional 3,718 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Trimble in the 2nd quarter worth $2,664,000. MBB Public Markets I LLC acquired a new stake in shares of Trimble during the second quarter worth $1,009,000. Finally, Millennium Management LLC lifted its holdings in shares of Trimble by 291.9% during the second quarter. Millennium Management LLC now owns 317,202 shares of the scientific and technical instruments company’s stock valued at $17,738,000 after purchasing an additional 236,269 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Sanford C. Bernstein upped their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird boosted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer raised their target price on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $84.86.

Insider Buying and Selling

In other Trimble 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 completion of the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Trimble Stock Performance

Shares of TRMB stock opened at $75.27 on Wednesday. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The stock’s 50-day moving average is $72.97 and its two-hundred day moving average is $64.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a market cap of $18.50 billion, a P/E ratio of 12.59, a PEG ratio of 3.21 and a beta of 1.52.

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.