Trimble (NASDAQ:TRMB) Price Target Raised to $56.00 at JPMorgan Chase & Co.

Trimble (NASDAQ:TRMBGet Free Report) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.65% from the company’s current price.

Several other research analysts also recently issued reports on TRMB. The Goldman Sachs Group lowered their price objective on Trimble from $66.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Piper Sandler upped their price objective on Trimble from $42.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Finally, StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.83.

Read Our Latest Report on Trimble

Trimble Stock Up 0.8 %

Shares of NASDAQ TRMB opened at $52.51 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 0.69. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.33 and a beta of 1.47. Trimble has a 12 month low of $39.57 and a 12 month high of $57.18. The stock has a 50-day moving average price of $50.95 and a two-hundred day moving average price of $50.25.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $51.05, for a total transaction of $127,625.00. Following the completion of the sale, the chief executive officer now owns 203,856 shares of the company’s stock, valued at approximately $10,406,848.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trimble news, SVP Darryl R. Matthews sold 3,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the transaction, the senior vice president now directly owns 50,638 shares in the company, valued at approximately $2,353,147.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $51.05, for a total value of $127,625.00. Following the transaction, the chief executive officer now owns 203,856 shares in the company, valued at $10,406,848.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,628 shares of company stock valued at $616,775. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently modified their holdings of the business. Primecap Management Co. CA boosted its holdings in shares of Trimble by 3.9% during the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after buying an additional 188,790 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Trimble during the 4th quarter worth approximately $191,000. Neuberger Berman Group LLC boosted its holdings in shares of Trimble by 1.4% during the 4th quarter. Neuberger Berman Group LLC now owns 808,659 shares of the scientific and technical instruments company’s stock worth $43,021,000 after buying an additional 11,446 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Trimble by 6.2% in the 4th quarter. US Bancorp DE now owns 34,207 shares of the scientific and technical instruments company’s stock worth $1,820,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Prospector Partners LLC lifted its holdings in shares of Trimble by 45.2% in the 4th quarter. Prospector Partners LLC now owns 342,270 shares of the scientific and technical instruments company’s stock worth $18,209,000 after purchasing an additional 106,550 shares in the last quarter. 90.20% of the stock is currently owned by institutional investors.

Trimble Company Profile

(Get Free Report)

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 route selection and design; 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.

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