Retirement Systems of Alabama Sells 365 Shares of Trimble Inc. (NASDAQ:TRMB)

Retirement Systems of Alabama cut its position in Trimble Inc. (NASDAQ:TRMB) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,875 shares of the scientific and technical instruments company’s stock after selling 365 shares during the quarter. Retirement Systems of Alabama’s holdings in Trimble were worth $3,736,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TRMB. TD Private Client Wealth LLC grew its position in shares of Trimble by 722.2% in the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 520 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the third quarter valued at $49,000. Friedenthal Financial purchased a new position in shares of Trimble in the fourth quarter valued at $49,000. Cromwell Holdings LLC grew its position in shares of Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares in the last quarter. Finally, Mather Group LLC. grew its position in shares of Trimble by 86.4% in the fourth quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 343 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRMB shares. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $84.86.

Trimble Price Performance

TRMB opened at $74.36 on Tuesday. The stock has a 50-day moving average price of $73.41 and a 200-day moving average price of $65.15. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $18.28 billion, a P/E ratio of 12.43, a PEG ratio of 3.14 and a beta of 1.53.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction dated 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 sale, the vice president now 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. Company insiders own 0.47% of the company’s stock.

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.