Trimble (NASDAQ:TRMB) Downgraded by StockNews.com to Buy

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

A number of other equities analysts also recently issued reports on TRMB. Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Wednesday, December 11th. Robert W. Baird lifted their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a report on Thursday, February 20th. Finally, 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. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $86.00.

Trimble Trading Down 3.2 %

NASDAQ:TRMB traded down $2.30 during trading hours on Monday, hitting $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 price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 3.09 and a beta of 1.53. Trimble has a one year low of $48.65 and a one year high of $77.78. The company has a fifty day simple moving average of $73.19 and a 200 day simple moving average of $67.27. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling at Trimble

In related news, VP Jennifer Allison sold 3,571 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the firm’s 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 transaction, the director now owns 10,162 shares in the company, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,421 shares of company stock valued at $831,683. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Trimble by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company’s stock valued at $2,099,064,000 after acquiring an additional 183,150 shares during the last quarter. Select Equity Group L.P. increased its position in 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 worth $717,506,000 after buying an additional 1,857,517 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Trimble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company’s stock valued at $425,427,000 after buying an additional 138,136 shares during the period. Victory Capital Management Inc. raised its stake in shares of Trimble by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock valued at $400,312,000 after buying an additional 222,679 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Trimble by 2.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company’s stock valued at $390,909,000 after buying an additional 134,277 shares during the last quarter. 93.21% of the stock is 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.