Trimble (NASDAQ:TRMB) Upgraded by Cfra to Strong-Buy Rating

Cfra upgraded shares of Trimble (NASDAQ:TRMB - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have $92.00 price target on the scientific and technical instruments company's stock.

Several other brokerages have also recently issued reports on TRMB. StockNews.com raised Trimble from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Wolfe Research upgraded Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price target on the stock in a report on Monday, December 16th. Oppenheimer lifted their price target on Trimble from $77.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. 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. Finally, JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Trimble presently has an average rating of "Buy" and a consensus price target of $86.00.

Trimble Stock Down 2.4 %

Shares of NASDAQ:TRMB traded down $1.74 during mid-day trading on Thursday, hitting $71.47. 1,852,430 shares of the company traded hands, compared to its average volume of 1,347,057. The stock has a market cap of $17.57 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.17 and a beta of 1.53. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 12-month low of $48.65 and a 12-month high of $77.78. The stock has a 50-day moving average price of $73.30 and a two-hundred day moving average price of $66.28.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the business's stock in a transaction on Friday, January 17th. The stock was 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 in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Trimble

Several hedge funds have recently made changes to their positions in TRMB. Norges Bank purchased a new position in shares of Trimble in the fourth quarter valued at $190,391,000. Boston Partners grew its position in shares of Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after purchasing an additional 2,312,937 shares in the last quarter. Select Equity Group L.P. grew its position 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 purchasing an additional 1,857,517 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Trimble by 41.4% in the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company's stock valued at $337,934,000 after purchasing an additional 1,594,732 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Trimble in the fourth quarter valued at $50,041,000. 93.21% of the stock is currently owned by hedge funds and other 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.