Trimble (NASDAQ:TRMB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a strong-buy rating in a research note published on Thursday.

TRMB has been the subject of a number of other reports. Sanford C. Bernstein upped their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Oppenheimer upped their price objective on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Monday, December 16th. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. Finally, Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $86.00.

Trimble Price Performance

Trimble stock opened at $71.47 on Thursday. Trimble has a 52 week low of $48.65 and a 52 week high of $77.78. The business has a 50-day simple moving average of $73.30 and a 200 day simple moving average of $66.38. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.57 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.09 and a beta of 1.53.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction 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 sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Trimble

Several institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. boosted its stake in Trimble by 0.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after purchasing an additional 141 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in Trimble by 0.5% in the 4th quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock worth $2,017,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. raised its holdings in Trimble by 12.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock worth $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp raised its holdings in Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock valued at $717,000 after acquiring an additional 156 shares during the period. Finally, Huntington National Bank raised its holdings in Trimble by 10.4% during the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock valued at $125,000 after acquiring an additional 167 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.