State of Michigan Retirement System Cuts Stock Position in Trimble Inc. (NASDAQ:TRMB)

State of Michigan Retirement System decreased its position in shares of Trimble Inc. (NASDAQ:TRMB) by 0.3% in the fourth quarter, HoldingsChannel reports. The fund owned 66,323 shares of the scientific and technical instruments company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Trimble were worth $4,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRMB. SBI Securities Co. Ltd. acquired a new position in shares of Trimble during the fourth quarter worth $36,000. TD Private Client Wealth LLC grew its stake in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the last quarter. Friedenthal Financial acquired a new position in Trimble during the 4th quarter valued at about $49,000. Mather Group LLC. increased its position in Trimble by 86.4% during the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 343 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Trimble in the third quarter valued at about $49,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TRMB. 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, February 20th. Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Sanford C. Bernstein raised their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trimble presently has an average rating of “Buy” and an average price target of $86.00.

Insider Buying and Selling at Trimble

In related news, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 directly owns 10,162 shares in the company, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction 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 sale, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by insiders.

Trimble Stock Down 2.6 %

NASDAQ:TRMB opened at $67.65 on Friday. 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 $73.07 and its 200-day moving average price is $67.39. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The firm has a market capitalization of $16.63 billion, a P/E ratio of 11.11, a PEG ratio of 3.09 and a beta of 1.53.

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.