Avanza Fonder AB Purchases Shares of 26,090 Trimble Inc. (NASDAQ:TRMB)

Avanza Fonder AB acquired a new position in shares of Trimble Inc. (NASDAQ:TRMB) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,090 shares of the scientific and technical instruments company’s stock, valued at approximately $1,844,000.

A number of other hedge funds have also made changes to their positions in TRMB. TD Private Client Wealth LLC boosted its holdings in Trimble by 722.2% in the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 520 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the 3rd quarter valued at $49,000. Friedenthal Financial purchased a new position in shares of Trimble in the 4th quarter valued at $49,000. Cromwell Holdings LLC raised its stake in Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 375 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in Trimble in the third quarter valued at $76,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRMB shares. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Oppenheimer lifted their price target on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein increased their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. 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 report on Monday, December 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $84.86.

Trimble Stock Performance

Shares of TRMB opened at $74.92 on Friday. The stock 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 company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a 1 year low of $48.60 and a 1 year high of $76.97. The company’s fifty day moving average is $72.27 and its two-hundred day moving average is $62.96.

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.