Trimble (NASDAQ:TRMB) Downgraded to Buy Rating by StockNews.com

StockNews.com cut shares of Trimble (NASDAQ:TRMB) from a strong-buy rating to a buy rating in a research report released on Monday morning.

A number of other equities research analysts also recently commented on the stock. Oppenheimer increased their price objective on shares of 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 price objective on the stock in a research report on Thursday, February 20th. Robert W. Baird increased their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Finally, Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $86.00.

Trimble Trading Up 1.5 %

Shares of NASDAQ:TRMB opened at $69.49 on Monday. Trimble has a 52 week low of $48.65 and a 52 week high of $77.78. The company’s 50 day moving average is $73.12 and its two-hundred day moving average is $67.37. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.08 billion, a PE ratio of 11.41, a P/E/G ratio of 3.09 and a beta of 1.53.

Insider Buying and Selling

In other news, VP Jennifer Allison sold 3,571 shares of Trimble 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 directly owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock worth $831,683 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

Several hedge funds have recently modified their holdings of the stock. KBC Group NV lifted its position in shares of Trimble by 81.9% during the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock worth $11,279,000 after purchasing an additional 71,891 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Trimble by 18.4% in the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after acquiring an additional 60,752 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Trimble by 22.2% in 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 acquiring an additional 136,452 shares during the period. Benjamin Edwards Inc. grew its position in Trimble by 76.5% in 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 buying an additional 17,424 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in 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 buying an additional 132,467 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Company 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.