Trimble Inc. (NASDAQ:TRMB) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its stake in Trimble Inc. (NASDAQ:TRMB) by 2.5% during the 3rd quarter, Holdings Channel reports. The firm owned 4,272,331 shares of the scientific and technical instruments company’s stock after selling 110,088 shares during the quarter. Trimble makes up approximately 1.1% of King Luther Capital Management Corp’s investment portfolio, making the stock its 22nd largest position. King Luther Capital Management Corp’s holdings in Trimble were worth $265,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Trimble by 41.4% in the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after purchasing an additional 1,594,732 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Trimble by 7.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after acquiring an additional 239,673 shares during the last quarter. Impax Asset Management Group plc boosted its position in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares during the last quarter. Lazard Asset Management LLC increased its position in Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after purchasing an additional 516,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Trimble by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after purchasing an additional 361,421 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Performance

NASDAQ:TRMB opened at $70.48 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.98 and a beta of 1.49. The firm’s fifty day moving average price is $63.03 and its 200 day moving average price is $58.15. Trimble Inc. has a 1-year low of $42.85 and a 1-year high of $74.22.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRMB shares. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Sunday. Piper Sandler boosted their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.40.

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.