Trimble (NASDAQ:TRMB) Raised to Strong-Buy at Cfra

Cfra upgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Cfra currently has $92.00 target price on the scientific and technical instruments company’s stock.

Several other research firms have also recently weighed in on TRMB. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Monday, December 16th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Sanford C. Bernstein lifted their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Oppenheimer lifted their price objective on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $86.00.

Trimble Price Performance

Shares of TRMB opened at $73.21 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The stock has a market cap of $17.99 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 3.17 and a beta of 1.53. The stock’s 50-day moving average price is $73.34 and its two-hundred day moving average price is $66.13.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at $235,985.75. The trade was a 53.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TRMB. Crowley Wealth Management Inc. acquired a new position in shares of Trimble during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in shares of Trimble during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Trimble during the 4th quarter worth approximately $36,000. TD Private Client Wealth LLC increased its position 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 purchasing an additional 520 shares during the last quarter. Finally, Larson Financial Group LLC increased 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 purchasing an additional 422 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.