Prudential Financial Inc. Reduces Stock Position in Trimble Inc. (NASDAQ:TRMB)

Prudential Financial Inc. trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 151,132 shares of the scientific and technical instruments company’s stock after selling 3,707 shares during the quarter. Prudential Financial Inc.’s holdings in Trimble were worth $10,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Trimble during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new stake in Trimble during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble in the fourth quarter worth $36,000. TD Private Client Wealth LLC boosted its stake in Trimble by 722.2% during the third 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 period. Finally, Larson Financial Group LLC increased its position in Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 422 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TRMB. Sanford C. Bernstein lifted their price target on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com cut Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. Oppenheimer upped their price objective on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trimble currently has a consensus rating of “Buy” and an average price target of $86.00.

Insider Buying and Selling

In other news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock valued at $831,683 over the last three months. 0.47% of the stock is owned by company insiders.

Trimble Price Performance

Shares of TRMB stock opened at $65.52 on Friday. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $72.15 and a two-hundred day simple moving average of $68.83. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 3.09 and a beta of 1.57.

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.