Polar Asset Management Partners Inc. Acquires 224,900 Shares of Trimble Inc. (NASDAQ:TRMB)

Polar Asset Management Partners Inc. raised its stake in Trimble Inc. (NASDAQ:TRMB) by 607.8% in the third quarter, Holdings Channel reports. The fund owned 261,900 shares of the scientific and technical instruments company’s stock after purchasing an additional 224,900 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Trimble were worth $16,261,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Investment Management Corp of Ontario grew its position in Trimble by 45.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 8,040 shares of the scientific and technical instruments company’s stock worth $499,000 after acquiring an additional 2,500 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Trimble by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 60,905 shares of the scientific and technical instruments company’s stock valued at $3,782,000 after buying an additional 1,744 shares during the last quarter. Holocene Advisors LP grew its holdings in Trimble by 157.5% during the 3rd quarter. Holocene Advisors LP now owns 151,040 shares of the scientific and technical instruments company’s stock worth $9,378,000 after acquiring an additional 92,373 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in shares of Trimble by 23.4% during the third quarter. Beacon Investment Advisory Services Inc. now owns 34,175 shares of the scientific and technical instruments company’s stock worth $2,122,000 after purchasing an additional 6,475 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock worth $2,496,000 after purchasing an additional 17,424 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on TRMB shares. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler raised their price target on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $92.00 in a research note on Wednesday. Finally, Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trimble presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Trimble Price Performance

NASDAQ TRMB opened at $73.95 on Wednesday. The company has a market cap of $18.06 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 3.13 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $65.65 and its two-hundred day simple moving average is $59.15. Trimble Inc. has a 52 week low of $45.61 and a 52 week high of $74.56.

Trimble 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.