Cornerstone Capital Inc. Lowers Stock Position in Trimble Inc. (NASDAQ:TRMB)

Cornerstone Capital Inc. decreased its holdings in Trimble Inc. (NASDAQ:TRMB) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,197 shares of the scientific and technical instruments company’s stock after selling 47,090 shares during the quarter. Trimble comprises about 1.7% of Cornerstone Capital Inc.’s portfolio, making the stock its 25th biggest position. Cornerstone Capital Inc. owned approximately 0.09% of Trimble worth $16,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Trimble in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in Trimble in the fourth quarter valued at $36,000. Larson Financial Group LLC raised its holdings in Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 422 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in Trimble in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 0.1 %

TRMB opened at $58.23 on Friday. The company’s 50 day moving average price is $66.79 and its two-hundred day moving average price is $68.89. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 3.09 and a beta of 1.57. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Insider Buying and Selling at Trimble

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now owns 10,162 shares in the company, valued at $729,529.98. The trade was a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

TRMB has been the subject of a number of research analyst reports. Oppenheimer raised their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Finally, StockNews.com lowered Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trimble presently has a consensus rating of “Buy” and a consensus price target of $86.00.

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.