Brandywine Global Investment Management LLC Acquires 106,114 Shares of Trimble Inc. (NASDAQ:TRMB)

Brandywine Global Investment Management LLC lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 366.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,099 shares of the scientific and technical instruments company’s stock after purchasing an additional 106,114 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of Trimble worth $9,546,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRMB. Intech Investment Management LLC boosted its stake in shares of Trimble by 10.2% during the 3rd quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 489 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Trimble by 20.3% during the third quarter. The Manufacturers Life Insurance Company now owns 185,151 shares of the scientific and technical instruments company’s stock valued at $11,496,000 after purchasing an additional 31,286 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Trimble by 12.8% in the third quarter. Public Sector Pension Investment Board now owns 10,584 shares of the scientific and technical instruments company’s stock valued at $657,000 after purchasing an additional 1,200 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Trimble by 9.1% during the 3rd quarter. Captrust Financial Advisors now owns 63,309 shares of the scientific and technical instruments company’s stock worth $3,931,000 after purchasing an additional 5,302 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Trimble in the third quarter valued at $4,481,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

TRMB has been the subject of several research analyst reports. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a research note on Thursday, February 20th. StockNews.com downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Finally, Sanford C. Bernstein raised their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. 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, the company currently has an average rating of “Buy” and a consensus target price of $86.00.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the firm’s 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 transaction, the director now owns 10,162 shares of the company’s stock, valued at $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 valued at $831,683 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Trimble Stock Performance

NASDAQ TRMB opened at $65.65 on Tuesday. The firm’s fifty day moving average price is $71.96 and its two-hundred day moving average price is $69.10. The stock has a market cap of $16.14 billion, a PE ratio of 10.78, a PEG ratio of 3.09 and a beta of 1.57. 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 Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78.

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.