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

Trimble (NASDAQ:TRMB - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Monday.

TRMB has been the subject of several other research reports. Wolfe Research raised Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective for the company in a report on Monday, December 16th. Sanford C. Bernstein increased their price target on shares of Trimble from $82.00 to $85.00 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 boosted their price objective for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. Finally, Robert W. Baird lifted their price target on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $86.00.

Trimble Stock Up 1.5 %

TRMB traded up $1.04 on Monday, hitting $69.49. 2,160,333 shares of the company were exchanged, compared to its average volume of 1,291,578. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The stock's fifty day moving average is $73.12 and its 200-day moving average is $67.37. The company has a market cap of $17.08 billion, a PE ratio of 11.41, a PEG ratio of 3.09 and a beta of 1.53. Trimble has a 12 month low of $48.65 and a 12 month high of $77.78.

Insiders Place Their Bets

In related 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 transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the vice president now owns 3,157 shares of the company's stock, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock worth $831,683 over the last three months. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Trimble

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Trimble by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company's stock valued at $2,099,064,000 after purchasing an additional 183,150 shares during the period. Select Equity Group L.P. boosted its stake in shares of Trimble by 22.4% in the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after buying an additional 1,857,517 shares during the period. Geode Capital Management LLC grew its position in Trimble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock worth $425,427,000 after buying an additional 138,136 shares in the last quarter. Victory Capital Management Inc. increased its stake in Trimble by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company's stock worth $400,312,000 after acquiring an additional 222,679 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Trimble by 2.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock worth $390,909,000 after purchasing an additional 134,277 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.