Contour Asset Management LLC Has $330.77 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Contour Asset Management LLC increased its holdings in Trimble Inc. (NASDAQ:TRMB) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,681,182 shares of the scientific and technical instruments company’s stock after purchasing an additional 197,913 shares during the quarter. Trimble accounts for 9.6% of Contour Asset Management LLC’s investment portfolio, making the stock its biggest position. Contour Asset Management LLC’s holdings in Trimble were worth $330,772,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in shares of Trimble in the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new position in Trimble in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble in the fourth quarter valued at approximately $36,000. Larson Financial Group LLC boosted its stake in shares of Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 422 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Trimble during the fourth quarter valued at approximately $49,000. 93.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRMB has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Oppenheimer increased their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $86.00.

Insider Activity at Trimble

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Calvin Dalton sold 2,141 shares of the firm’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 $729,529.98. This trade represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Trimble Stock Down 1.2 %

TRMB stock opened at $63.32 on Wednesday. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The business’s 50 day moving average price is $64.03 and its two-hundred day moving average price is $68.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

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.