abrdn plc Sells 23,410 Shares of Trimble Inc. (NASDAQ:TRMB)

abrdn plc decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 owned 0.22% of Trimble worth $37,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Trimble by 41.4% during the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after acquiring an additional 1,594,732 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Trimble by 49.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after purchasing an additional 676,954 shares during the period. Impax Asset Management Group plc grew its position in 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. Sora Investors LLC bought a new stake in Trimble in the 3rd quarter worth approximately $22,663,000. Finally, Assenagon Asset Management S.A. grew its position in Trimble by 132.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 521,774 shares of the scientific and technical instruments company’s stock worth $32,397,000 after purchasing an additional 296,893 shares during the period. Institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRMB. 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. Oppenheimer lifted their price target on shares of Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Trimble presently has a consensus rating of “Buy” and an average price target of $84.86.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were 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 approximately $235,985.75. This represents a 53.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

Trimble Stock Performance

Trimble stock opened at $75.07 on Thursday. The company’s 50-day moving average price is $73.30 and its 200-day moving average price is $64.70. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The company has a market cap of $18.45 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.12 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.