Corebridge Financial Inc. Sells 1,022 Shares of Trimble Inc. (NASDAQ:TRMB)

Corebridge Financial Inc. cut its stake in Trimble Inc. (NASDAQ:TRMB) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,608 shares of the scientific and technical instruments company’s stock after selling 1,022 shares during the quarter. Corebridge Financial Inc.’s holdings in Trimble were worth $4,212,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Boston Partners increased its stake in Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock valued at $239,802,000 after purchasing an additional 2,312,937 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Trimble in the 4th quarter valued at $50,041,000. Sora Investors LLC acquired a new stake in Trimble during the 3rd quarter worth $22,663,000. Principal Financial Group Inc. lifted its holdings in Trimble by 73.1% during the fourth quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company’s stock worth $47,852,000 after acquiring an additional 285,907 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its stake in Trimble by 607.8% in the third quarter. Polar Asset Management Partners Inc. now owns 261,900 shares of the scientific and technical instruments company’s stock valued at $16,261,000 after acquiring an additional 224,900 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Down 3.6 %

TRMB stock opened at $65.52 on Monday. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 3.09 and a beta of 1.57. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The business has a 50 day moving average price of $72.15 and a two-hundred day moving average price of $69.03. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRMB. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Sanford C. Bernstein boosted their price target on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $86.00.

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.