Nikko Asset Management Americas Inc. Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Nikko Asset Management Americas Inc. lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,472,989 shares of the scientific and technical instruments company’s stock after selling 217,992 shares during the quarter. Trimble comprises 1.1% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 26th largest position. Nikko Asset Management Americas Inc. owned approximately 0.60% of Trimble worth $104,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of TRMB. Apollon Wealth Management LLC purchased a new position in shares of Trimble during the third quarter valued at about $210,000. GSA Capital Partners LLP increased its position in shares of Trimble by 27.1% during the third quarter. GSA Capital Partners LLP now owns 10,477 shares of the scientific and technical instruments company’s stock valued at $651,000 after buying an additional 2,231 shares during the period. Huntington National Bank boosted its stake in Trimble by 48.7% during the third quarter. Huntington National Bank now owns 1,601 shares of the scientific and technical instruments company’s stock worth $99,000 after acquiring an additional 524 shares in the last quarter. Metis Global Partners LLC boosted its stake in Trimble by 7.5% during the third quarter. Metis Global Partners LLC now owns 20,814 shares of the scientific and technical instruments company’s stock worth $1,292,000 after acquiring an additional 1,451 shares in the last quarter. Finally, ING Groep NV boosted its stake in Trimble by 272.8% during the third quarter. ING Groep NV now owns 32,661 shares of the scientific and technical instruments company’s stock worth $2,028,000 after acquiring an additional 23,900 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity at Trimble

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. 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 quarter. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TRMB. Robert W. Baird boosted 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. StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a research note on Thursday, February 20th. Piper Sandler reissued an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their price objective on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $86.00.

Trimble Trading Up 4.5 %

Shares of NASDAQ TRMB opened at $69.39 on Monday. The company has a market cap of $17.06 billion, a PE ratio of 11.39, a P/E/G ratio of 3.09 and a beta of 1.57. The firm’s 50 day moving average price is $72.62 and its 200-day moving average price is $68.02. Trimble Inc. has a 52-week low of $48.65 and a 52-week 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 1.27.

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.