Trimble Inc. (NASDAQ:TRMB) Stock Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Trimble Inc. (NASDAQ:TRMB) by 8.2% during the third quarter, HoldingsChannel.com reports. The fund owned 35,711 shares of the scientific and technical instruments company’s stock after buying an additional 2,705 shares during the period. CIBC Asset Management Inc’s holdings in Trimble were worth $2,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its holdings in Trimble by 11.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after buying an additional 24,938 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after acquiring an additional 60,752 shares during the period. Swedbank AB purchased a new stake in shares of Trimble in the 1st quarter valued at approximately $17,937,000. Janus Henderson Group PLC boosted its stake in Trimble by 26.6% in the 1st quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company’s stock worth $3,845,000 after purchasing an additional 12,555 shares during the period. Finally, Magnetar Financial LLC purchased a new position in Trimble during the 2nd quarter worth approximately $1,752,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRMB. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Piper Sandler upped their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Trimble Trading Down 0.3 %

NASDAQ:TRMB opened at $69.67 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The company has a market capitalization of $17.01 billion, a P/E ratio of 11.65, a P/E/G ratio of 3.02 and a beta of 1.49. The stock’s 50 day moving average price is $62.72 and its 200 day moving average price is $58.06. Trimble Inc. has a 52 week low of $42.85 and a 52 week high of $74.22.

Trimble Company Profile

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.