Principal Financial Group Inc. Raises Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Principal Financial Group Inc. grew its stake in Trimble Inc. (NASDAQ:TRMB) by 73.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 677,217 shares of the scientific and technical instruments company’s stock after buying an additional 285,907 shares during the period. Principal Financial Group Inc.’s holdings in Trimble were worth $47,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its stake 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 valued at $37,000 after buying an additional 520 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Trimble during the 3rd quarter worth $49,000. Friedenthal Financial purchased a new position in Trimble during the 4th quarter worth $49,000. Cromwell Holdings LLC increased its holdings in shares of Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 375 shares during the period. Finally, Mather Group LLC. increased its holdings in shares of Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Down 3.1 %

TRMB stock opened at $73.21 on Friday. The stock has a market capitalization of $17.99 billion, a P/E ratio of 12.24, a PEG ratio of 3.15 and a beta of 1.53. The company has a 50 day moving average price of $73.34 and a two-hundred day moving average price of $66.13. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TRMB shares. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Thursday. StockNews.com upgraded Trimble from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Sanford C. Bernstein boosted their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Trimble currently has a consensus rating of “Buy” and a consensus target price of $86.00.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were 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 in the company, valued at $235,985.75. This represents a 53.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.