Oppenheimer & Co. Inc. Decreases Position in Trimble Inc. (NASDAQ:TRMB)

Oppenheimer & Co. Inc. reduced its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 37,808 shares of the scientific and technical instruments company’s stock after selling 1,480 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Trimble were worth $2,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Trimble by 41.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after acquiring an additional 1,594,732 shares during the period. GSA Capital Partners LLP boosted its stake 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 purchasing an additional 2,231 shares during the period. Apollon Wealth Management LLC bought a new position in shares of Trimble in the third quarter worth approximately $210,000. Weil Company Inc. increased its stake in shares of Trimble by 52.4% in the third quarter. Weil Company Inc. now owns 28,315 shares of the scientific and technical instruments company’s stock worth $1,758,000 after buying an additional 9,739 shares during the period. Finally, Meixler Investment Management Ltd. raised its holdings in Trimble by 11.8% during the 3rd quarter. Meixler Investment Management Ltd. now owns 19,337 shares of the scientific and technical instruments company’s stock valued at $1,201,000 after buying an additional 2,034 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Down 0.2 %

Shares of NASDAQ:TRMB opened at $70.62 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a 52-week low of $42.56 and a 52-week high of $74.22. The firm has a market capitalization of $17.25 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.11 and a beta of 1.49. The stock has a 50 day moving average price of $62.12 and a 200-day moving average price of $57.90.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler increased their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird boosted their target price on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Sunday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Trimble has a consensus rating of “Moderate Buy” and an average price target of $75.40.

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.