Trimble (NASDAQ:TRMB) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Trimble (NASDAQ:TRMB) from a strong-buy rating to a buy rating in a report released on Monday.

A number of other research analysts have also weighed in on TRMB. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded 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 note on Wednesday, December 4th. Sanford C. Bernstein boosted their price target on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Finally, Oppenheimer boosted their target price on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $86.00.

Trimble Price Performance

Trimble stock opened at $69.68 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. Trimble has a one year low of $48.65 and a one year high of $77.78. The firm has a market capitalization of $17.13 billion, a P/E ratio of 11.44, a PEG ratio of 3.09 and a beta of 1.53. The business has a fifty day moving average price of $73.19 and a 200-day moving average price of $67.27.

Insider Buying and Selling

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,421 shares of company stock worth $831,683 in the last 90 days. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Trimble in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in Trimble in the fourth quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new position in Trimble during the 4th quarter valued at $36,000. TD Private Client Wealth LLC increased its position in Trimble by 722.2% during the 3rd 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 during the period. Finally, Larson Financial Group LLC raised its holdings in Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 422 shares in the last quarter. 93.21% of the stock is owned by 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.