Connor Clark & Lunn Investment Management Ltd. Takes $1.06 Million Position in Trimble Inc. (NASDAQ:TRMB)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,961 shares of the scientific and technical instruments company’s stock, valued at approximately $1,057,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Trimble by 0.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after acquiring an additional 141 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Trimble by 0.5% in the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock valued at $2,017,000 after acquiring an additional 141 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Trimble by 12.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after acquiring an additional 149 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Trimble by 1.6% in the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock valued at $717,000 after acquiring an additional 156 shares in the last quarter. Finally, SYM FINANCIAL Corp boosted its holdings in shares of Trimble by 4.4% in the fourth quarter. SYM FINANCIAL Corp now owns 4,099 shares of the scientific and technical instruments company’s stock valued at $290,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Transactions at Trimble

In other news, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock worth $831,683 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TRMB has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Sanford C. Bernstein raised their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $86.00.

Trimble Stock Performance

Shares of TRMB opened at $70.68 on Friday. The stock has a market cap of $17.37 billion, a P/E ratio of 11.61, a PEG ratio of 3.09 and a beta of 1.57. 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 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $72.51 and a two-hundred day moving average of $68.25.

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.