Trimble (NASDAQ:TRMB) Upgraded by Cfra to Strong-Buy Rating

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, MarketBeat Ratings reports. Cfra currently has $92.00 target price on the scientific and technical instruments company’s stock.

Several other research analysts have also issued reports on TRMB. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Sanford C. Bernstein increased their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer increased their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Finally, Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Monday, December 16th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $86.00.

Trimble Stock Down 3.1 %

Shares of TRMB stock opened at $73.21 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The stock has a fifty day moving average price of $73.34 and a 200 day moving average price of $66.13. Trimble has a one year low of $48.65 and a one 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.

Insider Activity at Trimble

In related 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 value of $266,932.25. Following the transaction, the vice president now owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 boosted its holdings in Trimble by 4.0% in the third quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock valued at $2,038,000 after acquiring an additional 1,277 shares during the last quarter. Blue Trust Inc. boosted its holdings in Trimble by 93.9% in the third quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company’s stock valued at $77,000 after acquiring an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Trimble by 78.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company’s stock worth $1,783,000 after buying an additional 12,660 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Trimble by 5.8% during the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after buying an additional 219 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Trimble by 6,109.0% during the third quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company’s stock worth $1,029,000 after buying an additional 16,311 shares during the last quarter. 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.