Procyon Advisors LLC Has $489,000 Position in Trimble Inc. (NASDAQ:TRMB)

Procyon Advisors LLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 24.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,924 shares of the scientific and technical instruments company’s stock after selling 2,289 shares during the quarter. Procyon Advisors LLC’s holdings in Trimble were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TRMB. Principal Financial Group Inc. lifted its holdings in shares of Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after buying an additional 60,752 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Trimble in the second quarter valued at approximately $1,752,000. JPMorgan Chase & Co. increased its stake in shares of Trimble by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock worth $46,594,000 after purchasing an additional 136,452 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Trimble by 76.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after purchasing an additional 17,424 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of Trimble by 768.5% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company’s stock valued at $9,295,000 after purchasing an additional 132,467 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TRMB. Sanford C. Bernstein raised their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Oppenheimer upped their target price on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Monday, December 16th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Trimble currently has an average rating of “Buy” and an average price target of $84.86.

Trimble Stock Performance

NASDAQ:TRMB opened at $74.92 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. The firm’s 50-day moving average is $72.27 and its 200-day moving average is $62.96. Trimble Inc. has a 52-week low of $48.60 and a 52-week high of $76.97. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.92 and a beta of 1.52.

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.