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

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

Other research analysts also recently issued research reports about the company. Wolfe Research upgraded 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 target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note 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. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein increased their price target on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $86.00.

Trimble Stock Performance

Shares of Trimble stock traded down $2.77 during trading hours on Thursday, hitting $72.80. 816,167 shares of the company’s stock traded hands, compared to its average volume of 1,293,057. Trimble has a 12-month low of $48.65 and a 12-month high of $77.78. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 3.15 and a beta of 1.53. The company has a fifty day simple moving average of $73.37 and a 200-day simple moving average of $66.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. The trade was a 53.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

A number of large investors have recently bought and sold shares of TRMB. Vanguard Group Inc. increased its stake in shares of Trimble by 0.6% during 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 buying an additional 183,150 shares during the period. Select Equity Group L.P. boosted its position in shares of Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock valued at $717,506,000 after purchasing an additional 1,857,517 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Trimble by 2.3% during 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 purchasing an additional 138,136 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Trimble by 4.1% during 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 purchasing an additional 222,679 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Trimble by 2.5% during the fourth 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 purchasing an additional 134,277 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other 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.