Trimble (NASDAQ:TRMB) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other equities analysts have also commented on TRMB. Sanford C. Bernstein increased their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Wednesday. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer raised their target price on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $84.00.

Trimble Trading Down 1.7 %

Shares of NASDAQ:TRMB opened at $73.59 on Thursday. The business’s 50-day moving average is $67.78 and its 200 day moving average is $60.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble has a 1 year low of $48.60 and a 1 year high of $76.97. The firm has a market capitalization of $17.97 billion, a P/E ratio of 12.31, a P/E/G ratio of 3.15 and a beta of 1.53.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Trimble by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock worth $364,984,000 after acquiring an additional 39,069 shares during the period. Victory Capital Management Inc. grew its stake in shares of Trimble by 41.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after purchasing an additional 1,594,732 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Trimble by 7.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after purchasing an additional 239,673 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after purchasing an additional 434,065 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Trimble by 49.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after purchasing an additional 676,954 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.