IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires New Stake in Trimble Inc. (NASDAQ:TRMB)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Trimble Inc. (NASDAQ:TRMB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,436 shares of the scientific and technical instruments company’s stock, valued at approximately $525,000.

Several other institutional investors and hedge funds have also made changes to their positions in TRMB. NEOS Investment Management LLC boosted its position in Trimble by 31.0% during the fourth quarter. NEOS Investment Management LLC now owns 15,336 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after purchasing an additional 3,631 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Trimble by 4.1% during the fourth quarter. UniSuper Management Pty Ltd now owns 31,520 shares of the scientific and technical instruments company’s stock worth $2,227,000 after acquiring an additional 1,248 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Trimble by 69.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company’s stock valued at $89,837,000 after acquiring an additional 520,980 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Trimble by 4.9% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,752 shares of the scientific and technical instruments company’s stock valued at $1,608,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Trimble by 5.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company’s stock worth $26,560,000 after purchasing an additional 17,785 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 value of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares in the company, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $266,932.25. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock valued at $831,683 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TRMB shares. Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Monday, December 16th. Finally, StockNews.com downgraded Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $86.00.

Trimble Stock Down 3.6 %

Shares of TRMB stock opened at $65.52 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock has a 50 day moving average of $72.15 and a 200 day moving average of $68.83. The stock has a market cap of $16.10 billion, a P/E ratio of 10.76, a P/E/G ratio of 3.09 and a beta of 1.57.

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.