Allspring Global Investments Holdings LLC Increases Position in Trimble Inc. (NASDAQ:TRMB)

Allspring Global Investments Holdings LLC boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 34.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,534 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,813 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trimble were worth $2,686,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. KBC Group NV raised its stake in Trimble by 81.9% during the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock worth $11,279,000 after purchasing an additional 71,891 shares during the period. Principal Financial Group Inc. raised its stake in Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after purchasing an additional 60,752 shares during the period. JPMorgan Chase & Co. raised 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 purchasing an additional 136,452 shares during the period. Benjamin Edwards Inc. raised its stake in Trimble by 76.5% during the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock worth $2,496,000 after purchasing an additional 17,424 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in Trimble by 768.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company’s stock worth $9,295,000 after purchasing an additional 132,467 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMB has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Finally, Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Trimble has a consensus rating of “Buy” and a consensus price target of $86.00.

Trimble Price Performance

Shares of TRMB stock opened at $71.47 on Friday. The firm has a market cap of $17.57 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.17 and a beta of 1.53. 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 1-year low of $48.65 and a 1-year high of $77.78. The firm has a fifty day moving average of $73.30 and a two-hundred day moving average of $66.28.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

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.