Trimble Inc. (NASDAQ:TRMB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 43.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,489 shares of the scientific and technical instruments company's stock after selling 145,818 shares during the quarter. Bank of Montreal Can owned about 0.08% of Trimble worth $13,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Norges Bank purchased a new position in Trimble during the fourth quarter valued at $190,391,000. Boston Partners grew its position in Trimble by 217.3% in the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock worth $239,802,000 after purchasing an additional 2,312,937 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Trimble during the fourth quarter valued at $50,041,000. JPMorgan Chase & Co. lifted its stake in shares of Trimble by 69.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock worth $89,837,000 after purchasing an additional 520,980 shares during the period. Finally, Schroder Investment Management Group raised its position in Trimble by 1,064.6% in the fourth quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company's stock worth $32,257,000 after acquiring an additional 417,313 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Trimble Price Performance

Shares of NASDAQ TRMB traded down $0.05 during mid-day trading on Friday, hitting $58.23. 1,252,181 shares of the company's stock traded hands, compared to its average volume of 1,396,295. The company's 50-day moving average is $67.11 and its two-hundred day moving average is $68.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a market capitalization of $14.31 billion, a P/E ratio of 9.56, a PEG ratio of 3.09 and a beta of 1.57.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com cut Trimble from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 3rd. Oppenheimer upped their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock in a research note on Thursday, February 20th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $86.00.

About Trimble

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.