abrdn plc Lowers Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

abrdn plc trimmed its stake in Trimble Inc. (NASDAQ:TRMB) by 4.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 532,825 shares of the scientific and technical instruments company’s stock after selling 23,410 shares during the period. abrdn plc’s holdings in Trimble were worth $37,615,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Trimble by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock worth $364,984,000 after purchasing an additional 39,069 shares during the period. Victory Capital Management Inc. lifted its position in shares of 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 worth $337,934,000 after purchasing an additional 1,594,732 shares during the period. Impax Asset Management Group plc lifted its position 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 worth $169,978,000 after purchasing an additional 434,065 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Trimble by 49.1% during 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 acquiring an additional 676,954 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Trimble by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock valued at $46,594,000 after acquiring an additional 136,452 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Trimble Stock Up 1.0 %

NASDAQ:TRMB opened at $75.07 on Thursday. The firm has a market capitalization of $18.45 billion, a P/E ratio of 12.55, a PEG ratio of 3.12 and a beta of 1.53. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company’s fifty day moving average price is $73.30 and its 200-day moving average price is $64.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction 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 owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.47% of the company’s stock.

Trimble 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.