Franklin Resources Inc. Cuts Position in Trimble Inc. (NASDAQ:TRMB)

Franklin Resources Inc. lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 360,980 shares of the scientific and technical instruments company’s stock after selling 6,625 shares during the period. Franklin Resources Inc. owned about 0.15% of Trimble worth $22,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its holdings in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 520 shares during the period. Blue Trust Inc. boosted its position in shares of Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 313 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Trimble in the 3rd quarter valued at about $49,000. Cromwell Holdings LLC raised its position in Trimble by 86.6% during the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 375 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trimble in the second quarter valued at about $48,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the topic of several recent research reports. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Oppenheimer raised their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Finally, Robert W. Baird boosted their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $84.86.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $70.74 on Friday. The business has a 50 day simple moving average of $68.61 and a 200-day simple moving average of $60.55. Trimble Inc. has a twelve month low of $48.60 and a twelve month high of $76.97. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

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.