AXQ Capital LP Takes $445,000 Position in Trimble Inc. (NASDAQ:TRMB)

AXQ Capital LP acquired a new position in Trimble Inc. (NASDAQ:TRMB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,295 shares of the scientific and technical instruments company’s stock, valued at approximately $445,000.

Other hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in Trimble in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new stake in Trimble in the fourth quarter worth about $36,000. TD Private Client Wealth LLC lifted its stake in Trimble by 722.2% in 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 acquiring an additional 520 shares during the period. Larson Financial Group LLC lifted its stake in Trimble by 164.8% in the fourth 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 period. Finally, Friedenthal Financial purchased a new stake in Trimble in the fourth quarter worth about $49,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,421 shares of company stock worth $831,683 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Trimble Stock Performance

TRMB opened at $70.54 on Friday. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.34 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The firm’s 50-day moving average price is $72.52 and its 200-day moving average price is $68.44.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRMB. Robert W. Baird upped their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein increased their price target on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research report on Thursday, February 20th. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Monday, December 16th. Finally, Oppenheimer increased their price target 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. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trimble presently has a consensus rating of “Buy” and a consensus price target 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.