Tidal Investments LLC Has $1.36 Million Position in Trimble Inc. (NASDAQ:TRMB)

Tidal Investments LLC lessened its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 51.0% in the third quarter, Holdings Channel.com reports. The fund owned 21,913 shares of the scientific and technical instruments company’s stock after selling 22,778 shares during the quarter. Tidal Investments LLC’s holdings in Trimble were worth $1,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after purchasing an additional 60,752 shares during the period. Magnetar Financial LLC acquired a new position in shares of Trimble during the 2nd quarter worth about $1,752,000. Raymond James & Associates grew its position in shares of Trimble by 27.9% during the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock worth $9,198,000 after buying an additional 35,841 shares during the period. Benjamin Edwards Inc. raised its position in shares of Trimble by 76.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after acquiring an additional 17,424 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Trimble by 768.5% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company’s stock valued at $9,295,000 after acquiring an additional 132,467 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Shares of Trimble stock opened at $70.69 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 $17.26 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The stock’s 50-day moving average is $68.43 and its 200-day moving average is $60.48. Trimble Inc. has a one year low of $48.60 and a one year high of $76.97.

Analysts Set New Price Targets

Several equities research analysts have commented on TRMB shares. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Wolfe Research upgraded shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Monday. Sanford C. Bernstein lifted their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Finally, Robert W. Baird lifted their price objective on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $84.86.

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.