Meeder Asset Management Inc. Reduces Position in Trimble Inc. (NASDAQ:TRMB)

Meeder Asset Management Inc. trimmed its position in Trimble Inc. (NASDAQ:TRMBGet Rating) by 14.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,760 shares of the scientific and technical instruments company’s stock after selling 308 shares during the period. Meeder Asset Management Inc.’s holdings in Trimble were worth $102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Artemis Investment Management LLP lifted its holdings in shares of Trimble by 4.7% in the second quarter. Artemis Investment Management LLP now owns 377,768 shares of the scientific and technical instruments company’s stock worth $22,052,000 after buying an additional 16,898 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Trimble by 10.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,409 shares of the scientific and technical instruments company’s stock valued at $534,000 after purchasing an additional 730 shares in the last quarter. Capital International Sarl raised its stake in Trimble by 3.4% in the first quarter. Capital International Sarl now owns 124,244 shares of the scientific and technical instruments company’s stock valued at $8,963,000 after purchasing an additional 4,059 shares in the last quarter. Arizona State Retirement System raised its stake in Trimble by 2.0% in the first quarter. Arizona State Retirement System now owns 69,870 shares of the scientific and technical instruments company’s stock valued at $5,040,000 after purchasing an additional 1,363 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Trimble by 16.2% in the second quarter. Van ECK Associates Corp now owns 3,099 shares of the scientific and technical instruments company’s stock valued at $180,000 after purchasing an additional 433 shares in the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRMB. JPMorgan Chase & Co. lowered their target price on shares of Trimble from $64.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Robert W. Baird lowered their target price on shares of Trimble from $70.00 to $65.00 in a research note on Thursday, November 3rd. Oppenheimer lowered their target price on shares of Trimble from $86.00 to $72.00 in a research note on Thursday, November 3rd. Piper Sandler reduced their price target on shares of Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Finally, TheStreet cut shares of Trimble from a “b-” rating to a “c+” rating in a research report on Tuesday, October 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.83.

Insider Transactions at Trimble

In other news, SVP Darryl R. Matthews sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $71.30, for a total value of $285,200.00. Following the transaction, the senior vice president now owns 38,136 shares in the company, valued at $2,719,096.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Darryl R. Matthews sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $71.30, for a total value of $285,200.00. Following the transaction, the senior vice president now owns 38,136 shares in the company, valued at $2,719,096.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James A. Kirkland sold 5,412 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $71.53, for a total transaction of $387,120.36. Following the completion of the transaction, the senior vice president now owns 65,132 shares in the company, valued at approximately $4,658,891.96. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Trimble Stock Up 4.8 %

Shares of Trimble stock opened at $62.00 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.72 and a current ratio of 0.99. Trimble Inc. has a 52-week low of $49.99 and a 52-week high of $89.79. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 32.63, a P/E/G ratio of 1.90 and a beta of 1.57. The company’s 50 day moving average price is $57.21 and its 200-day moving average price is $61.93.

Trimble Company Profile

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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 route selection and design; 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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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