Trimble (NASDAQ:TRMB) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.

Other research analysts have also issued research reports about the stock. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Monday, December 16th. Robert W. Baird increased their price objective on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Sanford C. Bernstein raised their target price on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Thursday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $86.00.

Trimble Stock Down 3.1 %

Shares of TRMB opened at $73.21 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble has a 52 week low of $48.65 and a 52 week high of $77.78. The stock has a market capitalization of $17.99 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 3.17 and a beta of 1.53. The stock has a fifty day moving average of $73.34 and a 200-day moving average of $66.13.

Insiders Place Their Bets

In related news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Trimble

Several large investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. lifted its position in shares of Trimble by 0.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after acquiring an additional 141 shares during the period. Essex Investment Management Co. LLC increased its stake in Trimble by 0.5% in the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock valued at $2,017,000 after purchasing an additional 141 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Trimble by 12.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp boosted its position in shares of Trimble by 1.6% during the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 156 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Trimble by 10.4% in the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock valued at $125,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.