Trexquant Investment LP Acquires 159,242 Shares of Trimble Inc. (NASDAQ:TRMB)

Trexquant Investment LP boosted its holdings in Trimble Inc. (NASDAQ:TRMB) by 163.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256,934 shares of the scientific and technical instruments company’s stock after acquiring an additional 159,242 shares during the period. Trexquant Investment LP’s holdings in Trimble were worth $18,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Trimble by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company’s stock worth $425,427,000 after purchasing an additional 138,136 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Trimble by 20.6% during the fourth quarter. Alliancebernstein L.P. now owns 415,830 shares of the scientific and technical instruments company’s stock worth $29,383,000 after buying an additional 71,119 shares during the period. Wellington Management Group LLP raised its position in shares of Trimble by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company’s stock worth $1,580,000 after acquiring an additional 5,472 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Trimble by 17.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,595 shares of the scientific and technical instruments company’s stock valued at $395,000 after acquiring an additional 841 shares during the period. Finally, Brandywine Global Investment Management LLC grew its position in Trimble by 366.1% in the 4th quarter. Brandywine Global Investment Management LLC now owns 135,099 shares of the scientific and technical instruments company’s stock valued at $9,546,000 after purchasing an additional 106,114 shares during the period. 93.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TRMB. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Sanford C. Bernstein upped their price target on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Oppenheimer increased their price objective on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Monday, December 16th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $86.00.

Insiders Place Their Bets

In other news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,421 shares of company stock valued at $831,683. Corporate insiders own 0.47% of the company’s stock.

Trimble Trading Down 0.4 %

Shares of NASDAQ TRMB opened at $65.38 on Wednesday. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company has a market cap of $16.07 billion, a PE ratio of 10.74, a P/E/G ratio of 3.09 and a beta of 1.57. The firm’s 50 day moving average price is $71.74 and its 200-day moving average price is $69.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

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.