Norges Bank Takes $190.39 Million Position in Trimble Inc. (NASDAQ:TRMB)

Norges Bank acquired a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,694,467 shares of the scientific and technical instruments company’s stock, valued at approximately $190,391,000. Norges Bank owned 1.10% of Trimble at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Trimble during the fourth quarter valued at about $525,000. NEOS Investment Management LLC grew its holdings in shares of Trimble by 31.0% during the 4th quarter. NEOS Investment Management LLC now owns 15,336 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,631 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of Trimble by 4.1% during the 4th quarter. UniSuper Management Pty Ltd now owns 31,520 shares of the scientific and technical instruments company’s stock worth $2,227,000 after purchasing an additional 1,248 shares during the period. JPMorgan Chase & Co. increased its position in Trimble by 69.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company’s stock worth $89,837,000 after purchasing an additional 520,980 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Trimble by 4.9% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 22,752 shares of the scientific and technical instruments company’s stock valued at $1,608,000 after buying an additional 1,060 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Down 3.6 %

Shares of NASDAQ TRMB opened at $65.52 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The stock’s 50-day simple moving average is $72.15 and its 200-day simple moving average is $69.03. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 3.09 and a beta of 1.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TRMB shares. Oppenheimer increased their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com downgraded Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Robert W. Baird increased their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein raised their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trimble presently has a consensus rating of “Buy” and an average price target of $86.00.

Insiders Place Their Bets

In other news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 11,421 shares of company stock worth $831,683 in the last three months. 0.47% of the stock is owned by insiders.

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.