Trimble (NASDAQ:TRMB) Raised to Strong-Buy at Cfra

Trimble (NASDAQ:TRMB) was upgraded by equities researchers at Cfra from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $92.00 price target on the scientific and technical instruments company’s stock. Cfra’s target price points to a potential upside of 28.73% from the company’s current price.

TRMB has been the topic of several other research reports. Sanford C. Bernstein boosted their price objective on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Oppenheimer boosted their price target on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Robert W. Baird lifted their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. 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 MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $86.00.

Trimble Trading Down 2.4 %

Shares of Trimble stock 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 PEG ratio of 3.17 and a beta of 1.53. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The company’s fifty day simple moving average is $73.30 and its 200-day simple moving average is $66.28. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction 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 owns 3,157 shares in the company, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

Several institutional investors have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Trimble during the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Trimble during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in Trimble in the 4th quarter valued at $36,000. TD Private Client Wealth LLC boosted its stake in 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 worth $37,000 after purchasing an additional 520 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Trimble by 164.8% in the fourth 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.

About Trimble

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.