Cfra Upgrades Trimble (NASDAQ:TRMB) to Strong-Buy

Trimble (NASDAQ:TRMB) was upgraded by equities research analysts at Cfra from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $92.00 target price on the scientific and technical instruments company’s stock. Cfra’s price objective indicates a potential upside of 28.73% from the stock’s previous close.

TRMB has been the topic of a number of other reports. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Monday, December 16th. Robert W. Baird lifted 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. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and increased their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Trimble presently has a consensus rating of “Buy” and an average price target of $86.00.

Trimble Stock Down 2.4 %

NASDAQ:TRMB opened at $71.47 on Thursday. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 3.17 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The stock’s fifty day moving average price is $73.30 and its two-hundred day moving average price is $66.28. Trimble has a 52-week low of $48.65 and a 52-week high of $77.78.

Insiders Place Their Bets

In other news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the sale, the vice president now owns 3,157 shares of the company’s stock, valued at $235,985.75. This trade 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 this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Trimble

Several hedge funds have recently bought and sold shares of the stock. Crowley Wealth Management Inc. acquired a new position in shares of Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in Trimble in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Trimble in the 4th quarter valued at about $36,000. TD Private Client Wealth LLC lifted its holdings in shares of Trimble by 722.2% in the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 520 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of 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 buying an additional 422 shares during the period. 93.21% of the stock is currently 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.