Assenagon Asset Management S.A. Cuts Position in Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. lowered its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 64.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,949 shares of the scientific and technical instruments company’s stock after selling 335,825 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of Trimble worth $13,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TRMB. Oak Thistle LLC acquired a new stake in Trimble in the 4th quarter valued at $406,000. Friedenthal Financial acquired a new stake in shares of Trimble in the fourth quarter valued at about $49,000. Czech National Bank increased its stake in shares of Trimble by 6.4% during the fourth quarter. Czech National Bank now owns 52,950 shares of the scientific and technical instruments company’s stock worth $3,741,000 after purchasing an additional 3,203 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Trimble by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,038 shares of the scientific and technical instruments company’s stock valued at $2,193,000 after buying an additional 486 shares in the last quarter. Finally, Fulton Bank N.A. boosted its holdings in Trimble by 32.8% in the 4th quarter. Fulton Bank N.A. now owns 11,256 shares of the scientific and technical instruments company’s stock worth $795,000 after buying an additional 2,781 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRMB. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and increased their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Sanford C. Bernstein upped their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Finally, Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Monday, December 16th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $84.86.

Trimble Trading Up 1.4 %

Shares of TRMB opened at $74.92 on Friday. Trimble Inc. has a 12-month low of $48.60 and a 12-month high of $76.97. The firm has a market capitalization of $18.30 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.92 and a beta of 1.52. The firm has a 50-day moving average price of $72.27 and a 200 day moving average price of $62.96. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Trimble Company 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.