Kentucky Retirement Systems Sells 1,390 Shares of Trimble Inc. (NASDAQ:TRMB)

Kentucky Retirement Systems lessened its position in Trimble Inc. (NASDAQ:TRMB) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,013 shares of the scientific and technical instruments company’s stock after selling 1,390 shares during the quarter. Kentucky Retirement Systems’ holdings in Trimble were worth $1,056,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new stake in shares of Trimble during the 1st quarter worth approximately $354,000. Bessemer Group Inc. lifted its position in shares of Trimble by 48.8% during the first quarter. Bessemer Group Inc. now owns 15,836 shares of the scientific and technical instruments company’s stock worth $1,019,000 after purchasing an additional 5,197 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Trimble by 11.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock valued at $15,960,000 after purchasing an additional 24,938 shares during the period. Natixis grew its holdings in shares of Trimble by 10.6% in the first quarter. Natixis now owns 32,481 shares of the scientific and technical instruments company’s stock worth $2,090,000 after purchasing an additional 3,115 shares during the last quarter. Finally, Capital Group Private Client Services Inc. increased its stake in Trimble by 77.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock worth $57,383,000 after buying an additional 390,171 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird upped their target price on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.40.

Trimble Stock Performance

Shares of NASDAQ:TRMB opened at $69.67 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 3.02 and a beta of 1.49. The firm has a 50 day moving average of $62.72 and a 200 day moving average of $58.06. Trimble Inc. has a 52 week low of $42.85 and a 52 week high of $74.22.

Trimble 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.