Trimble (NASDAQ:TRMB) Price Target Raised to $74.00

Trimble (NASDAQ:TRMB) had its price target increased by JPMorgan Chase & Co. from $66.00 to $74.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

Several other equities analysts have also recently issued reports on TRMB. Oppenheimer restated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler increased their price objective on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird raised their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Trading Up 0.7 %

Shares of TRMB opened at $72.65 on Thursday. The firm has a 50 day moving average price of $60.46 and a 200-day moving average price of $57.47. Trimble has a fifty-two week low of $40.79 and a fifty-two week high of $73.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 1.16. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 3.23 and a beta of 1.49.

Institutional Investors Weigh In On Trimble

A number of institutional investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC grew its holdings in shares of Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 313 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Trimble in the third quarter valued at about $49,000. Cromwell Holdings LLC raised its holdings in shares of Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 375 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble in the second quarter valued at about $48,000. 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.