StockNews.com Downgrades Trimble (NASDAQ:TRMB) to Buy

Trimble (NASDAQ:TRMB) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

A number of other brokerages have also recently issued reports on TRMB. Sanford C. Bernstein boosted their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Piper Sandler reissued an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Finally, Robert W. Baird raised their price target 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. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trimble presently has a consensus rating of “Buy” and an average target price of $86.00.

Trimble Stock Performance

Shares of NASDAQ TRMB traded down $2.30 during mid-day trading on Monday, reaching $69.68. 1,878,548 shares of the company were exchanged, compared to its average volume of 1,284,253. The stock has a market capitalization of $17.13 billion, a P/E ratio of 11.44, a P/E/G ratio of 3.09 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company’s 50-day simple moving average is $73.19 and its 200-day simple moving average is $67.27. Trimble has a twelve month low of $48.65 and a twelve month high of $77.78.

Insider Buying and Selling

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock valued at $831,683 over the last quarter. 0.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Crowley Wealth Management Inc. bought a new stake in shares of Trimble during the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Trimble in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Trimble during the fourth quarter worth $36,000. TD Private Client Wealth LLC lifted its stake in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 520 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 422 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

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.