Maverick Capital Ltd. Buys Shares of 27,283 Trimble Inc. (NASDAQ:TRMB)

Maverick Capital Ltd. purchased a new stake in Trimble Inc. (NASDAQ:TRMB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,283 shares of the scientific and technical instruments company’s stock, valued at approximately $1,694,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after buying an additional 3,589,249 shares during the period. AQR Capital Management LLC increased its stake in shares of Trimble by 2,035.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after acquiring an additional 1,093,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Trimble by 49.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after acquiring an additional 676,954 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Trimble by 18.7% in the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Trimble by 24.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after acquiring an additional 361,421 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler upped their target price on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Trimble currently has an average rating of “Moderate Buy” and an average price target of $75.40.

Trimble Trading Up 0.7 %

TRMB opened at $72.97 on Friday. The stock has a market capitalization of $17.82 billion, a P/E ratio of 12.20, a P/E/G ratio of 3.12 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12 month low of $45.61 and a 12 month high of $74.22. The firm’s fifty day simple moving average is $65.05 and its 200 day simple moving average is $58.90.

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.