Geneva Capital Management LLC Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Geneva Capital Management LLC lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,945 shares of the scientific and technical instruments company’s stock after selling 13,230 shares during the quarter. Geneva Capital Management LLC’s holdings in Trimble were worth $7,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its position in shares of Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after buying an additional 141 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Trimble by 12.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 149 shares during the period. M&T Bank Corp increased its position in shares of Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock valued at $717,000 after buying an additional 156 shares during the period. SYM FINANCIAL Corp boosted its stake in Trimble by 4.4% during the fourth quarter. SYM FINANCIAL Corp now owns 4,099 shares of the scientific and technical instruments company’s stock worth $290,000 after acquiring an additional 172 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Trimble by 5.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,577 shares of the scientific and technical instruments company’s stock worth $253,000 after acquiring an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRMB. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a research note on Thursday, February 20th. Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Sanford C. Bernstein boosted their price objective on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $86.00.

Insider Buying and Selling

In related news, Director James Calvin Dalton sold 2,141 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,421 shares of company stock worth $831,683. 0.47% of the stock is owned by insiders.

Trimble Trading Up 1.5 %

Shares of TRMB stock opened at $69.49 on Thursday. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $73.12 and its 200 day moving average is $67.37. The stock has a market capitalization of $17.08 billion, a P/E ratio of 11.41, a P/E/G ratio of 3.09 and a beta of 1.53.

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.