Trimble (NASDAQ:TRMB) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Other analysts also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Thursday. Sanford C. Bernstein increased their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trimble presently has an average rating of “Buy” and an average target price of $86.00.

Trimble Trading Down 3.1 %

Shares of Trimble stock opened at $73.21 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The business has a fifty day simple moving average of $73.34 and a two-hundred day simple moving average of $66.13. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 3.17 and a beta of 1.53.

Insiders Place Their Bets

In related news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now owns 3,157 shares of the company’s stock, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Trimble in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in shares of Trimble in the 4th quarter valued at $36,000. TD Private Client Wealth LLC raised its holdings in shares of Trimble by 722.2% during 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 buying an additional 520 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 422 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.