Trimble (NASDAQ:TRMB) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMBFree Report) from a hold rating to a buy rating in a research note released on Friday.

Several other research analysts also recently weighed in on TRMB. JPMorgan Chase & Co. cut their price target on Trimble from $56.00 to $48.00 and set a neutral rating for the company in a report on Thursday, November 2nd. The Goldman Sachs Group cut their price target on Trimble from $66.00 to $58.00 and set a buy rating for the company in a report on Thursday, November 2nd. Finally, Piper Sandler upped their price objective on Trimble from $42.00 to $51.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $53.50.

Read Our Latest Report on TRMB

Trimble Trading Up 0.4 %

Shares of TRMB opened at $52.59 on Friday. The stock has a fifty day moving average of $50.33 and a two-hundred day moving average of $50.26. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.07 and a current ratio of 1.26. The company has a market capitalization of $13.08 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 2.35 and a beta of 1.47. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $61.44.

Insider Transactions at Trimble

In other news, Director Mark S. Peek acquired 10,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $46.59 per share, for a total transaction of $465,900.00. Following the acquisition, the director now directly owns 81,562 shares in the company, valued at approximately $3,799,973.58. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $51.05, for a total transaction of $127,625.00. Following the transaction, the chief executive officer now directly owns 203,856 shares of the company’s stock, valued at approximately $10,406,848.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark S. Peek purchased 10,000 shares of Trimble stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $46.59 per share, for a total transaction of $465,900.00. Following the completion of the transaction, the director now directly owns 81,562 shares in the company, valued at approximately $3,799,973.58. The disclosure for this purchase can be found here. Insiders sold a total of 13,628 shares of company stock worth $616,775 in the last ninety days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clear Street Markets LLC lifted its position in Trimble by 93.2% during the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 234 shares in the last quarter. IFP Advisors Inc lifted its position in Trimble by 798.1% during the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 415 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Trimble by 73.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 666 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 281 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Trimble during the 2nd quarter worth approximately $42,000. Finally, Operose Advisors LLC purchased a new stake in Trimble during the 3rd quarter worth approximately $43,000. 90.20% of the stock is owned by institutional investors and hedge funds.

About Trimble

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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 route selection and design; 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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Analyst Recommendations for Trimble (NASDAQ:TRMB)

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