Victory Capital Management Inc. Raises Stock Position in Trimble Inc. (NASDAQ:TRMB)

Victory Capital Management Inc. boosted its stake in Trimble Inc. (NASDAQ:TRMB) by 41.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,442,653 shares of the scientific and technical instruments company’s stock after buying an additional 1,594,732 shares during the period. Victory Capital Management Inc. owned 2.23% of Trimble worth $337,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farrow Financial Inc. grew its holdings in shares of 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 valued at $2,425,000 after buying an additional 192 shares during the last quarter. SVB Wealth LLC boosted its stake in shares of Trimble by 4.8% during the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after acquiring an additional 204 shares during the last quarter. Profund Advisors LLC lifted its position in Trimble by 4.6% during the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after purchasing an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after buying an additional 219 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of 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 buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their target price on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Price Performance

TRMB traded down $0.10 during trading on Tuesday, hitting $73.26. The company’s stock had a trading volume of 282,706 shares, compared to its average volume of 1,341,753. Trimble Inc. has a twelve month low of $40.79 and a twelve month high of $74.21. The firm has a market capitalization of $17.89 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 3.23 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $60.79 and its 200 day simple moving average is $57.56.

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.