Legal & General Group Plc Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Legal & General Group Plc reduced its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 21.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,850,232 shares of the scientific and technical instruments company's stock after selling 517,661 shares during the quarter. Legal & General Group Plc owned about 0.75% of Trimble worth $130,737,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TRMB. Crowley Wealth Management Inc. purchased a new position in shares of Trimble during the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Trimble in the fourth quarter worth $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble during the fourth quarter valued at $36,000. TD Private Client Wealth LLC grew its position 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 in the last quarter. Finally, Larson Financial Group LLC increased its stake in Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after acquiring an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com downgraded Trimble from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 3rd. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a research report on Thursday, February 20th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $86.00.

Insiders Place Their Bets

In other news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the transaction, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock valued at $831,683 over the last three months. Insiders own 0.47% of the company's stock.

Trimble Price Performance

Shares of TRMB stock traded down $1.00 during trading hours on Wednesday, hitting $58.59. 286,969 shares of the company's stock were exchanged, compared to its average volume of 1,389,285. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a market capitalization of $14.40 billion, a PE ratio of 9.62, a PEG ratio of 3.09 and a beta of 1.57. The business's 50 day simple moving average is $67.75 and its 200-day simple moving average is $69.01. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Trimble Company 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.