Altrinsic Global Advisors LLC Boosts Holdings in Trimble Inc. (NASDAQ:TRMB)

Altrinsic Global Advisors LLC raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 0.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 197,450 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,442 shares during the period. Trimble comprises about 0.7% of Altrinsic Global Advisors LLC’s portfolio, making the stock its 24th biggest holding. Altrinsic Global Advisors LLC’s holdings in Trimble were worth $13,952,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Trimble during the 4th quarter valued at about $190,391,000. Boston Partners lifted its holdings in Trimble by 217.3% during the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock valued at $239,802,000 after purchasing an additional 2,312,937 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Trimble in the fourth quarter worth approximately $50,041,000. JPMorgan Chase & Co. increased its stake in shares of Trimble by 69.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company’s stock worth $89,837,000 after purchasing an additional 520,980 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Trimble by 1,064.6% during the 4th quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company’s stock valued at $32,257,000 after purchasing an additional 417,313 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TRMB shares. Oppenheimer increased their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a research report on Thursday, February 20th. Finally, StockNews.com cut Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Trimble presently has an average rating of “Buy” and a consensus price target of $86.00.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Trimble Price Performance

Shares of Trimble stock opened at $58.01 on Wednesday. The firm has a market cap of $14.26 billion, a PE ratio of 9.53, a PEG ratio of 3.09 and a beta of 1.57. The stock has a 50 day moving average of $66.14 and a 200 day moving average of $68.87. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

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.