Trimble Inc. (NASDAQ:TRMB) Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 18.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 391,310 shares of the scientific and technical instruments company’s stock after acquiring an additional 60,752 shares during the period. Principal Financial Group Inc.’s holdings in Trimble were worth $24,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cornerstone Capital Inc. boosted its holdings in shares of Trimble by 0.6% during the third quarter. Cornerstone Capital Inc. now owns 280,287 shares of the scientific and technical instruments company’s stock worth $17,403,000 after purchasing an additional 1,790 shares during the period. Sentry Investment Management LLC purchased a new stake in Trimble in the 3rd quarter worth approximately $76,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Trimble during the 3rd quarter valued at $49,000. Impax Asset Management Group plc grew its holdings in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Trimble by 13,597.7% in the third quarter. National Pension Service now owns 23,971 shares of the scientific and technical instruments company’s stock worth $1,488,000 after acquiring an additional 23,796 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Down 0.3 %

TRMB opened at $72.61 on Thursday. Trimble Inc. has a twelve month low of $41.42 and a twelve month high of $74.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The business has a 50 day moving average price of $61.49 and a 200 day moving average price of $57.75. The firm has a market cap of $17.73 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49.

Analyst Ratings Changes

A number of research firms recently issued reports on TRMB. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler increased their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird raised their price objective on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

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.