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

Trimble (NASDAQ:TRMB) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Other equities research analysts have also recently issued research reports about the company. Sanford C. Bernstein boosted their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Robert W. Baird boosted their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Thursday. Finally, Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Monday, December 16th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $86.00.

Trimble Stock Performance

NASDAQ TRMB traded down $2.36 on Thursday, hitting $73.21. The stock had a trading volume of 1,997,316 shares, compared to its average volume of 1,331,737. Trimble has a one year low of $48.65 and a one year high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.99 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 3.15 and a beta of 1.53. The company’s 50-day moving average is $73.34 and its two-hundred day moving average is $66.13.

Insider Activity

In other 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 value of $266,932.25. Following the transaction, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trimble

Several hedge funds have recently added to or reduced their stakes in TRMB. Creative Planning increased its position in shares of Trimble by 4.0% in the 3rd quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock valued at $2,038,000 after buying an additional 1,277 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Trimble by 93.9% during the third quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 600 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Trimble by 78.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company’s stock valued at $1,783,000 after acquiring an additional 12,660 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 219 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Trimble by 6,109.0% in the 3rd quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company’s stock valued at $1,029,000 after purchasing an additional 16,311 shares in the last quarter. Institutional investors 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.