Trimble (NASDAQ:TRMB) Rating Increased to Strong-Buy at StockNews.com

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

Other analysts also recently issued research reports about the stock. Robert W. Baird boosted their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Wolfe Research raised Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a report on Monday, December 16th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $86.00.

Trimble Stock Down 3.1 %

NASDAQ TRMB traded down $2.36 on Thursday, hitting $73.21. 1,997,316 shares of the stock were exchanged, compared to its average volume of 1,331,737. Trimble has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company has a 50-day moving average price of $73.34 and a 200-day moving average price of $66.13. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.99 billion, a PE ratio of 12.24, a PEG ratio of 3.15 and a beta of 1.53.

Insider Activity at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of the company's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Large investors have recently modified their holdings of the company. KBC Group NV lifted its position in Trimble by 81.9% during the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company's stock valued at $11,279,000 after buying an additional 71,891 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company's stock valued at $24,296,000 after acquiring an additional 60,752 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Trimble by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company's stock valued at $46,594,000 after purchasing an additional 136,452 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company's stock worth $2,496,000 after buying an additional 17,424 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Trimble by 768.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company's stock valued at $9,295,000 after buying an additional 132,467 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other 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.

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