Trimble (NASDAQ:TRMB) Price Target Raised to $90.00

Trimble (NASDAQ:TRMB) had its price objective increased by equities research analysts at Oppenheimer from $88.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price target suggests a potential upside of 23.63% from the company’s previous close.

Several other analysts also recently issued reports on TRMB. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Monday, December 16th. Finally, Sanford C. Bernstein lifted their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $86.00.

Trimble Trading Down 3.7 %

Trimble stock traded down $2.77 during mid-day trading on Thursday, hitting $72.80. 816,167 shares of the company’s stock were exchanged, compared to its average volume of 1,293,057. The firm has a market capitalization of $17.89 billion, a P/E ratio of 12.16, a PEG ratio of 3.15 and a beta of 1.53. Trimble has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. 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’s 50 day simple moving average is $73.37 and its 200-day simple moving average is $66.08.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Institutional Trading of Trimble

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in shares of Trimble by 4.0% during the 3rd quarter. Creative Planning now owns 32,827 shares of the scientific and technical instruments company’s stock worth $2,038,000 after buying an additional 1,277 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Trimble by 93.9% during the 3rd quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company’s stock worth $77,000 after buying an additional 600 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Trimble by 78.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,721 shares of the scientific and technical instruments company’s stock worth $1,783,000 after buying an additional 12,660 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Trimble by 5.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after buying an additional 219 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Trimble by 6,109.0% during the 3rd quarter. International Assets Investment Management LLC now owns 16,578 shares of the scientific and technical instruments company’s stock worth $1,029,000 after buying an additional 16,311 shares in the last quarter. 93.21% of the stock is currently owned by 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.