Principal Financial Group Inc. Has $18.33 Million Stake in Trimble Inc. (NASDAQ:TRMB)

Principal Financial Group Inc. boosted its position in Trimble Inc. (NASDAQ:TRMBGet Rating) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 314,866 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,688 shares during the period. Principal Financial Group Inc.’s holdings in Trimble were worth $18,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont acquired a new position in Trimble in the second quarter valued at $29,000. Column Capital Advisors LLC lifted its holdings in Trimble by 74.7% in the second quarter. Column Capital Advisors LLC now owns 676 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 289 shares during the period. Tobam acquired a new position in Trimble in the second quarter valued at $64,000. First Horizon Advisors Inc. raised its holdings in shares of Trimble by 1,252.9% during the second quarter. First Horizon Advisors Inc. now owns 1,177 shares of the scientific and technical instruments company’s stock valued at $68,000 after purchasing an additional 1,090 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in shares of Trimble during the second quarter valued at about $70,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Trimble Trading Up 1.4 %

NASDAQ:TRMB opened at $57.78 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.72. The firm has a 50-day moving average of $56.67 and a 200-day moving average of $61.50. The company has a market cap of $14.25 billion, a PE ratio of 30.41, a PEG ratio of 2.00 and a beta of 1.57. Trimble Inc. has a one year low of $49.99 and a one year high of $89.30.

Analysts Set New Price Targets

TRMB has been the topic of several research reports. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday, November 3rd. Oppenheimer dropped their price objective on shares of Trimble from $86.00 to $72.00 in a report on Thursday, November 3rd. Wolfe Research initiated coverage on shares of Trimble in a report on Tuesday, August 16th. They set a “market perform” rating on the stock. Robert W. Baird dropped their price objective on shares of Trimble from $70.00 to $65.00 in a report on Thursday, November 3rd. Finally, Piper Sandler dropped their price objective on shares of Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Trimble currently has an average rating of “Hold” and an average target price of $68.83.

About Trimble

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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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