Trimble (NASDAQ:TRMB) Given New $90.00 Price Target at Oppenheimer

Trimble (NASDAQ:TRMB) had its target price hoisted by Oppenheimer from $88.00 to $90.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the scientific and technical instruments company’s stock.

TRMB has been the subject of several other reports. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Thursday. Robert W. Baird upped their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein raised their price target on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wolfe Research raised 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $86.00.

Trimble Price Performance

Shares of TRMB opened at $73.21 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The firm’s 50-day simple moving average is $73.34 and its two-hundred day simple moving average is $66.13. Trimble has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The stock has a market cap of $17.99 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 3.17 and a beta of 1.53.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the sale, the vice president now owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trimble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its stake 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 valued at $2,038,000 after buying an additional 1,277 shares in the last quarter. Blue Trust Inc. raised its position in shares of Trimble by 93.9% during the third quarter. Blue Trust Inc. now owns 1,239 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Trimble by 78.8% in the third 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 position in shares of Trimble by 5.8% during the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after acquiring an additional 219 shares during 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 valued at $1,029,000 after purchasing an additional 16,311 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.