Quantinno Capital Management LP Trims Position in Trimble Inc. (NASDAQ:TRMB)

Quantinno Capital Management LP lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 28.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,617 shares of the scientific and technical instruments company’s stock after selling 3,456 shares during the quarter. Quantinno Capital Management LP’s holdings in Trimble were worth $535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Trimble during the third quarter worth about $49,000. Cromwell Holdings LLC raised its holdings in Trimble by 86.6% during the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 375 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Trimble in the second quarter valued at about $48,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Trimble in the 2nd quarter valued at approximately $52,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TRMB shares. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird upped 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. Finally, Sanford C. Bernstein raised their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $84.00.

Trimble Stock Down 1.7 %

Trimble stock opened at $73.59 on Friday. Trimble Inc. has a fifty-two week low of $48.60 and a fifty-two week high of $76.97. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The stock’s fifty day moving average is $67.78 and its two-hundred day moving average is $60.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

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.