Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Trimble Inc. (NASDAQ:TRMB)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Trimble Inc. (NASDAQ:TRMB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,961 shares of the scientific and technical instruments company’s stock, valued at approximately $1,057,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock valued at $364,984,000 after purchasing an additional 39,069 shares during the period. Victory Capital Management Inc. grew its stake in Trimble by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock worth $400,312,000 after buying an additional 222,679 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Trimble by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,080,628 shares of the scientific and technical instruments company’s stock worth $147,017,000 after buying an additional 24,070 shares during the period. JPMorgan Chase & Co. grew its stake in Trimble by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock worth $46,594,000 after buying an additional 136,452 shares during the period. Finally, Barclays PLC grew its stake in Trimble by 4.3% during the third quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company’s stock worth $46,151,000 after buying an additional 30,457 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRMB has been the subject of several research reports. 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. StockNews.com downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Finally, Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Trimble currently has a consensus rating of “Buy” and an average target price of $86.00.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,421 shares of company stock valued at $831,683 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Trimble Trading Down 1.3 %

TRMB opened at $70.68 on Friday. The stock has a market capitalization of $17.37 billion, a PE ratio of 11.61, a P/E/G ratio of 3.09 and a beta of 1.57. The firm’s fifty day moving average price is $72.51 and its 200 day moving average price is $68.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78.

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.