Trimble (NASDAQ:TRMB) Price Target Raised to $90.00

Trimble (NASDAQ:TRMB) had its price objective upped by stock analysts at Oppenheimer from $88.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price objective would suggest a potential upside of 25.93% from the stock’s previous close.

A number of other equities analysts also recently weighed in on TRMB. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Monday, December 16th. Cfra raised 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 note on Thursday. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird increased their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Trimble currently has a consensus rating of “Buy” and a consensus price target of $86.00.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $71.47 on Thursday. Trimble has a one year low of $48.65 and a one year high of $77.78. The stock has a fifty day moving average of $73.30 and a 200-day moving average of $66.28. The company has a market capitalization of $17.57 billion, a PE ratio of 11.74, a price-to-earnings-growth 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.

Insider Buying and Selling at Trimble

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

Institutional Investors Weigh In On Trimble

Hedge funds have recently made changes to their positions in the stock. KBC Group NV lifted its stake in shares of Trimble by 81.9% in the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock valued at $11,279,000 after buying an additional 71,891 shares during the period. Principal Financial Group Inc. lifted its stake in Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after purchasing an additional 60,752 shares during the period. JPMorgan Chase & Co. lifted its stake in Trimble by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock worth $46,594,000 after purchasing an additional 136,452 shares during the period. Benjamin Edwards Inc. lifted its stake in Trimble by 76.5% during the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock worth $2,496,000 after purchasing an additional 17,424 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its stake in Trimble by 768.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company’s stock worth $9,295,000 after purchasing an additional 132,467 shares during the period. Institutional investors own 93.21% of the company’s stock.

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.