Quest Partners LLC Cuts Stake in Trimble Inc. (NASDAQ:TRMB)

Quest Partners LLC reduced its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 50.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,255 shares of the scientific and technical instruments company’s stock after selling 16,563 shares during the period. Quest Partners LLC’s holdings in Trimble were worth $1,009,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC grew its holdings in Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 313 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the third quarter valued at $49,000. Cromwell Holdings LLC grew its holdings in shares of Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble in the second quarter valued at $48,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. raised their target price on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Sunday. Piper Sandler raised their target price on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird raised their target price on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Trimble Stock Up 1.2 %

NASDAQ TRMB opened at $70.48 on Thursday. 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 fifty day moving average of $63.03 and a two-hundred day moving average of $58.15. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 3.02 and a beta of 1.49. Trimble Inc. has a 52 week low of $42.85 and a 52 week high of $74.22.

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.