Kentucky Retirement Systems Trims Position in Trimble Inc. (NASDAQ:TRMB)

Kentucky Retirement Systems lowered its position in Trimble Inc. (NASDAQ:TRMB) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,782 shares of the scientific and technical instruments company’s stock after selling 231 shares during the quarter. Kentucky Retirement Systems’ holdings in Trimble were worth $1,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TRMB. Creative Planning increased its holdings in shares of Trimble by 4.0% during the 3rd quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock worth $2,038,000 after buying an additional 1,277 shares during the last quarter. Blue Trust Inc. increased its stake in Trimble by 93.9% during the third quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company’s stock worth $77,000 after acquiring an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Trimble by 78.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company’s stock valued at $1,783,000 after purchasing an additional 12,660 shares during the period. Sequoia Financial Advisors LLC raised its position in Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after purchasing an additional 219 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Trimble by 6,109.0% in the 3rd quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company’s stock valued at $1,029,000 after purchasing an additional 16,311 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of recent analyst reports. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Monday, December 16th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a report on Thursday. Oppenheimer boosted their target price on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Seven equities 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, the stock has an average rating of “Buy” and a consensus price target of $86.00.

Insider Transactions at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $71.47 on Monday. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78. The firm has a market capitalization of $17.57 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.09 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. The company’s fifty day moving average price is $73.30 and its 200 day moving average price is $66.49.

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.