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

Trimble (NASDAQ:TRMB) had its price objective raised by Oppenheimer from $88.00 to $90.00 in a report released on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the scientific and technical instruments company’s stock.

TRMB has been the topic of several other reports. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird lifted their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Finally, Wolfe Research upgraded shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Monday, December 16th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $86.00.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $71.47 on Thursday. The company’s fifty day moving average price is $73.30 and its 200 day moving average price is $66.38. Trimble has a 12 month low of $48.65 and a 12 month high of $77.78. 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 firm has a market capitalization of $17.57 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.09 and a beta of 1.53.

Insider Activity

In related news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

Large investors have recently made changes to their positions in the business. Crowley Wealth Management Inc. acquired a new stake in shares of Trimble in the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Trimble during the 4th quarter worth $35,000. SBI Securities Co. Ltd. acquired a new position in Trimble during the 4th quarter worth $36,000. TD Private Client Wealth LLC lifted its position in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of 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 buying an additional 422 shares during the last quarter. Institutional investors and hedge funds 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.